Two of Spain’s most prominent banks have structured new consumer-loan securitizations totaling nearly €1.89 billion (US$2.05 billion) in new bonds.

Moody’s Investors Service has assigned a definitive ‘A3’ ratings to a senior class of Series A fixed-rate notes totaling €1.251 billion (US$1.36 billion) supported by a portfolio of revolving consumer-loan accounts managed by €750 billion-asset Banco Bilbao Vizcaya Argentaria (BBVA), the country’s second-largest institution.

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