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Fitch Affirms BBVA Taipei Branch at 'AA(twn)'; Outlook Stable
May 28, 2015 / 7:18 AM / 3 years ago

Fitch Affirms BBVA Taipei Branch at 'AA(twn)'; Outlook Stable

(The following statement was released by the rating agency) TAIPEI/SYDNEY, May 28 (Fitch) Fitch Ratings has affirmed Banco Bilbao Vizcaya Argentaria S.A., Taipei Branch's (BBVA Taipei) National Long-Term Rating at 'AA(twn)' and National Short-Term Rating at 'F1+(twn)'. The Outlook is Stable. The rating action follows the affirmation of the ratings on its head office, Banco Bilbao Vizcaya Argentaria, S.A. (BBVA, A-/Stable) (see "Fitch Affirms Santander and BBVA at 'A-'; Outlook Stable" dated 22 May 2015 at www.fitchratings.com). KEY RATING DRIVERS NATIONAL RATINGS BBVA Taipei's ratings and Outlook remain tied to BBVA, reflecting its legal status as a branch and part of BBVA, as well as the highly integrated nature of their operations. Under Taiwanese regulations, the head office has a legal obligation to support any liquidity needs that a branch is not able to cover on its own as well as to meet the regulatory minimum capital requirement. RATING SENSITIVITIES NATIONAL RATINGS Any rating action on BBVA could trigger a similar rating action on BBVA Taipei's ratings. The rating actions are as follows: Banco Bilbao Vizcaya Argentaria S.A., Taipei Branch National Long-term Rating affirmed at 'AA(twn)'; Outlook Stable National Short-term Rating affirmed at 'F1+(twn)' Contact: Cherry Huang, CFA Director +886 2 8175 7603 Fitch Australia Pty Ltd, Taiwan Branch Suite 1306, 13F, Tun Hwa N. Rd., Taipei Secondary Analyst Jack Chiu Associate Director +886 2 8175 7606 Committee Chairperson Tim Roche Senior Director +61 2 8256 0310 Media Relations: Wai-Lun Wan, Hong Kong, Tel: +852 2263 9935, Email: wailun.wan@fitchratings.com. Additional information is available on www.fitchratings.com Additional Disclosures Solicitation Status here <a href="https://www.fitchratings.com/jsp/creditdesk/PolicyRegulation.faces?context =2&detail=31">Endorsement Policy ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: here. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S FREE WEB SITE AT WWW.FITCHRATINGS.COM. PUBLISHED RATINGS, CRITERIA, AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE, AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE CODE OF CONDUCT SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE. Fitch Australia Pty Ltd holds an Australian financial services licence (AFS licence no. 337123) which authorises it to provide credit ratings to wholesale clients only. Credit ratings information published by Fitch is not intended to be used by persons who are retail clients within the meaning of the Corporations Act 2001.

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