Business Context and Reporting Period
This Form 6-K filing by Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) covers the reporting period of September 16, 2025. The document serves as a notification of "Other Relevant Information" regarding a credit rating upgrade by S&P Global Ratings.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on credit rating actions.
Material Changes
The primary material change reported is the upgrade of BBVA's credit ratings by S&P Global Ratings on September 16, 2025:
- Long-term Issuer Credit Rating (ICR): Upgraded one notch from A to A+ (Outlook: Stable).
- Long-term Resolution Counterparty Rating (RCR): Upgraded one notch from A+ to AA-.
- Short-term RCR: Upgraded one notch from A-1 to A-1+.
- Short-term ICR: Affirmed at A-1.
- Long-term Senior Unsecured Debt: Upgraded one notch from A to A+.
- Long-term Senior Subordinated Debt: Upgraded one notch from BBB+ to A-.
- Long-term Subordinated Debt: Upgraded one notch from BBB to BBB+.
Guidance, Outlook, and Risks
S&P Global Ratings has maintained a stable outlook on BBVA's credit profile. The filing does not contain management commentary on future financial guidance, specific risk factors, contingencies, or unusual items beyond the rating agency's actions.
Investor Verification Checklist
- Verify the full S&P Global Ratings report to understand the specific drivers behind the upgrade (e.g., capital strength, profitability, or asset quality improvements).
- Confirm the impact of the rating upgrade on BBVA's cost of funding and access to capital markets.
- Review subsequent quarterly financial reports to correlate the rating upgrade with actual financial performance metrics.