Alphavalue / Divacons | MorningStar credit rating agency DBRS issued a new report last Friday on BBVA’s takeover bid for Sabadell banks in which it considers it to have “more pros than cons”. From a credit profile point of view, the deal will have a positive impact on Sabadell’s long-term credit ratings, which are positioned two notches below BBVA’s DBRS rating. It explains that the rating of the bank led by Carlos Torres reflects its solid franchise with international diversification and capacity to generate solid and recurring profits.
On the other hand, BBVA proceeded to reduce its share capital by minus one point 28% by redeeming the 74.6 million shares it acquired in its buyback completed in April, according to the announcement published on Friday in the Official Gazette of the Mercantile Registry.
