Scope Ratings has upgraded by one notch BBVA's rating for existing senior unsecured debt from A to A+, with stable outlook. BBVA said the rating action followed the passage, in June, of Royal Decree Law 11/2017, which introduced the possibility for Spanish banks to issue non-preferred senior unsecured debt TLAC/MREL eligible and "reflects Scope's opinion that, while the credit fundamentals of the group did not change, going forward the senior unsecured liabilities not eligible for TLAC/MREL should benefit from the protection of a materially more ample capital structure in a default-like situation". At 8:21am: (LON:BVA) Banco Bilbao Vizcaya Argentaria Sa share price was -0.07p at 7.64p
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