Fitch Ratings and Moody’s Investors Service have assigned preliminary ratings to a €700 million, 18-month revolving securitization of unsecured consumer auto loans issued and serviced by Banco Bilbao Vizcaya Argentaria, S.A. 

BBVA Consumo 8 FT’s asset-backed fixed rate notes consist of a €612.5 million Class A stack with a provisional ‘A+’ structured finance rating from Fitch and an ‘Aa2’ from Moody’s; as well as an €87.5 million Class B tranche that is rated ‘CCC’ by Fitch and ‘B1’ by Moody’s.  

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