🇺🇸 SECBANCO BILBAO VIZCAYA ARGENTARIA, S.A.Doubao · 实盘不做把握 8/10不做原因:风险收益比不佳
北京时间·🕒 发布 01:46:18·⟳ 抓取 01:46:41 +23s·⚡ 决策 10-21 02:01:10 +14m29s·7.0 天前
DBRS 将 BBVA 长期高级发行人评级上调一档至 AA(low)，展望由正面转为稳定
消息量级不足（③类不做）：一档评级上调且展望由正面转稳定，是此前 positive outlook 的兑现而非新增惊喜；评级行动主要作用于债券/融资成本，对巨型银行股的收入、利润指引和股东回报无增量信息，美股盘中亦无可利用的方向性 edge。
📄 原文BANCO BILBAO VIZCAYA ARGENTARIA, S.A.↗ 原文
----- tm2626639d6_6k.htm ----- 6-K 1 tm2626639d6_6k.htm FORM 6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHI…
不做 Banco Bilbao Vizcaya Argentaria, S.A.（BBVA.US）
单一评级机构一档上调且展望由正面转稳定，属预期内兑现；对千亿欧元市值银行无可量化盈利/估值增量，消息量级不足以驱动股票行情，无正期望交易机会。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
结论摘要
DBRS 把 BBVA 高级评级上调至 AA(low) 但展望降为稳定，属正面观察名单兑现式上调，预期差很小；信用评级微调对 BBVA 股票缺乏可量化业绩弹性，不足以驱动可交易行情，回避。
🔎 新鲜度:最早出现 2026-10-20 · 扩散 low · price-in 风险 medium ↗
关键理由
- 评级上调本身是利好，但 positive→stable 的展望变化说明行动已落地、短期无后续上调空间，预期差接近零。
- 对市值近千亿欧元的系统重要性银行，单一机构一档评级变动对资金成本的边际影响极小，且不改变净息差、资本回报与回购分红路径。
主要风险
- 若 DBRS 原文附带大幅上调其资本/盈利评估或被另外两大评级机构跟随，市场可能重估融资成本，但概率低且无法从本 6-K 证实。
- 欧元区银行板块若当日出现系统性行情，个股波动会淹没该特异性消息，反向亦不构成做空理由。
反向证据
- 做多前查反向 · 来源 web · 影响 weakens
事件文本本身显示展望由 positive 降为 stable（无后续上调暗示），且无资本回报、指引或业绩增量信息；多头缺少超预期支点。
检索:BBVA rating upgrade equity impact outlook stable funding cost materiality 原文 ↗
先例如何影响了这次决策
对本次决策的影响:直接支持 AVOID：不设交易腿、不调用行情；即便股价盘中小涨也属于不可捕捉的噪声。
方向:不适用：单一评级机构一档、兑现正面观察名单式的上调，在大盘银行股上历史上普遍无显著超额收益，方向性证据不足以支撑多头。
涨幅量级:未构建对齐先例面板：事件本身相对约千亿欧元市值的 materiality 过低，任何先例涨幅量级都不支持设置正期望止盈区间。
形态:评级上调伴随展望由正面转稳定通常是'行动完成'信号，经验上易出现债券微利好、股票无反应或小幅冲高回落。
工具执行结果 · 成功 1 · 降级 0 · 失败 0 · 取消 0
- search_processed_events 成功 stock_tools HTTP · 14 ms
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原文全文
展开原文 · 2,630 字
----- tm2626639d6_6k.htm -----
6-K
1
tm2626639d6_6k.htm
FORM 6-K
UNITED STATES SECURITIES AND EXCHANGE
COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a-16
OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of October, 2026
Commission file number: 1-10110
BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
(Exact name of Registrant as specified in its
charter)
BANK BILBAO VIZCAYA ARGENTARIA, S.A.
(Translation of Registrant’s name into
English)
Calle Azul 4,
28050 Madrid
Spain
(Address
of principal executive offices)
Indicate by check mark whether the registrant files
or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F
x
Form 40-F
¨
Indicate by check mark if the registrant is submitting
the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Yes
¨
No
x
Indicate by check mark if the registrant is submitting
the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Yes
¨
No
x
Banco Bilbao
Vizcaya Argentaria, S.A.
(BBVA), in compliance with the Securities Market legislation, hereby communicates the following:
OTHER RELEVANT INFORMATION
Today October 20th, 2026,
Morningstar
DBRS
(DBRS)
has upgraded by one notch BBVA’s long-term senior issuer rating to AA (low) from A (high)
. The outlook changed
to stable from positive.
DBRS has also taken the following actions over
other BBVA’s ratings:
·
Confirmed short-term issuer rating at R-1 (middle) with stable outlook.
·
Upgraded by one notch long-term senior debt rating to AA (low) from A (high) and outlook changed to stable
from positive.
·
Confirmed short-term debt rating at R-1 (middle) with stable outlook.
·
Upgraded by one notch subordinated debt rating to A from A (low) and outlook changed to stable from positive.
·
Upgraded by one notch long-term deposits rating to AA (low) from A (high) and outlook changed to stable
from positive.
·
Confirmed short-term deposits rating at R-1 (middle) with stable outlook.
·
Upgraded by one notch senior non-preferred debt rating to A (high) from A and outlook changed to stable
from positive.
·
Confirmed long-term critical obligations rating at AA with stable outlook.
·
Confirmed short-term critical obligations rating at R-1 (high) with stable outlook.
Madrid, October 20th 2026
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Banco Bilbao Vizcaya Argentaria, S.A.
Date: October 20, 2026
By:
/s/ Patricia Bueno Olalla
Name:
Patricia Bueno Olalla
Title:
Head of Investor Relations
6-K
1
tm2626639d6_6k.htm
FORM 6-K
UNITED STATES SECURITIES AND EXCHANGE
COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a-16
OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of October, 2026
Commission file number: 1-10110
BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
(Exact name of Registrant as specified in its
charter)
BANK BILBAO VIZCAYA ARGENTARIA, S.A.
(Translation of Registrant’s name into
English)
Calle Azul 4,
28050 Madrid
Spain
(Address
of principal executive offices)
Indicate by check mark whether the registrant files
or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F
x
Form 40-F
¨
Indicate by check mark if the registrant is submitting
the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Yes
¨
No
x
Indicate by check mark if the registrant is submitting
the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Yes
¨
No
x
Banco Bilbao
Vizcaya Argentaria, S.A.
(BBVA), in compliance with the Securities Market legislation, hereby communicates the following:
OTHER RELEVANT INFORMATION
Today October 20th, 2026,
Morningstar
DBRS
(DBRS)
has upgraded by one notch BBVA’s long-term senior issuer rating to AA (low) from A (high)
. The outlook changed
to stable from positive.
DBRS has also taken the following actions over
other BBVA’s ratings:
·
Confirmed short-term issuer rating at R-1 (middle) with stable outlook.
·
Upgraded by one notch long-term senior debt rating to AA (low) from A (high) and outlook changed to stable
from positive.
·
Confirmed short-term debt rating at R-1 (middle) with stable outlook.
·
Upgraded by one notch subordinated debt rating to A from A (low) and outlook changed to stable from positive.
·
Upgraded by one notch long-term deposits rating to AA (low) from A (high) and outlook changed to stable
from positive.
·
Confirmed short-term deposits rating at R-1 (middle) with stable outlook.
·
Upgraded by one notch senior non-preferred debt rating to A (high) from A and outlook changed to stable
from positive.
·
Confirmed long-term critical obligations rating at AA with stable outlook.
·
Confirmed short-term critical obligations rating at R-1 (high) with stable outlook.
Madrid, October 20th 2026
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Banco Bilbao Vizcaya Argentaria, S.A.
Date: October 20, 2026
By:
/s/ Patricia Bueno Olalla
Name:
Patricia Bueno Olalla
Title:
Head of Investor Relations
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