Banco Bilbao Vizcaya Argentaria S.A. Covered Bonds (Cédulas Hipotecarias - Mortgages): Surveillance Report

On 12 Februrary 2021, DBRS Ratings GmbH (DBRS Morningstar) confirmed its AAA ratings on the outstanding Cédulas Hipotecarias (CH, Spanish mortgage covered bonds) issued under the Banco Bilbao Vizcaya Argentaria S.A. Covered Bonds programme (BBVA CH or the Programme). This rating action follows the completion of a full review of the ratings.