The upgrade reduces BBVA's risk premium and should tighten credit spreads. Monitor for potential follow-on upgrades from other agencies and any impact on BBVA's bond issuance plans.
Price Chart
Executive Summary
Morningstar DBRS upgraded BBVA's long-term senior issuer rating by one notch to AA (low) from A (high), with the outlook revised to stable from positive. The upgrade also applied to several other debt and deposit ratings, while short-term ratings were confirmed. This is a positive credit event that lowers BBVA's funding costs and signals improved creditworthiness.
Key Facts
- Morningstar DBRS upgraded BBVA's long-term senior issuer rating to AA (low) from A (high) on October 20, 2026.
- Outlook changed to stable from positive.
- Subordinated debt rating upgraded to A from A (low).
- Long-term senior debt and deposit ratings upgraded to AA (low) from A (high).
- Senior non-preferred debt rating upgraded to A (high) from A.
- Short-term issuer, debt, and deposit ratings confirmed at R-1 (middle) with stable outlook.
- Long-term and short-term critical obligations ratings confirmed at AA and R-1 (high), respectively, with stable outlook.
Financial Impact
Rating upgrade to AA (low) from A (high) — a one-notch improvement in the second-highest investment-grade tier, reducing BBVA's funding costs and improving debt market access.
Risk Factors
- Outlook revised to stable from positive, indicating limited near-term further upside.
- Upgrade already priced in by the market; limited incremental stock reaction.
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001104659-26-117314 |
| Document: 0001104659-26-117314-index-headers.html | 0001104659-26-117314 |
| Document: 0001104659-26-117314-index.html | 0001104659-26-117314 |
| Document: 0001104659-26-117314.txt | 0001104659-26-117314 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | 6-K | $25.39 | awaiting T+1 | — | $25.24 (−0.59%) |
Oct 26, 2026 1d ago | 6-K | $25.34 $25.24 | ▼ −0.39% | ▼ −0.96% | $25.24 (−0.39%) |
Oct 20, 2026 7d ago | 6-K | $25.49 $25.79 | ▲ +1.18% | ▲ +0.65% | $25.24 (−0.98%) |
Oct 19, 2026 8d ago | 6-K | $25.25 $25.49 | ▲ +0.95% | ▲ +0.62% | $25.24 (−0.04%) |
Oct 19, 2026 8d ago | 6-K | $25.25 $25.49 | ▲ +0.95% | ▲ +0.62% | $25.24 (−0.04%) |
Oct 13, 2026 14d ago | 6-K | $26.43 $25.76 | ▼ −2.54% | ▼ −1.45% | $25.24 (−4.50%) |
Oct 2, 2026 25d ago | 6-K | $26.55 $26.52 | ▼ −0.15% | ▼ −0.82% | $25.24 (−4.95%) |
Oct 1, 2026 26d ago | 6-K | $26.45 $26.55 | ▲ +0.41% | ▼ −0.33% | $25.24 (−4.56%) |
Sep 30, 2026 27d ago | 6-K | $27.43 $26.45 | ▼ −3.59% | ▼ −3.77% | $25.24 (−7.98%) |
Sep 23, 2026 4w ago | 6-K | $28.09 $28.47 | ▲ +1.35% | ▲ +1.43% | $25.24 (−10.15%) |
US Market Status
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