Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), in compliance with the Securities Market legislation, hereby communicates the following:
RELEVANT EVENT
Fitch Ratings (Fitch) has today upgraded BBVA's Long-term Issuer Default Rating (IDR) to A- from BBB+. The outlook remains stable.
At the same time, Fitch has:
· Upgraded BBVA's Viability Rating (VR), which measures the intrinsic creditworthiness of a financial institution, to a- from bbb+.
· Affirmed BBVA's Short-term IDR at F2.
· Upgraded BBVA's subordinated debt rating to BBB+ from BBB.
· Upgraded BBVA's preference shares' rating to BB from BB-.
Madrid, May 29, 2014
