BBVA credit rating upgraded to AA (low) by DBRS

Banco Bilbao Vizcaya Argentaria, S.A.

Rhea-AI Filing Summary

Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) reported that Morningstar DBRS upgraded its long-term senior issuer rating by one notch, to AA (low) from A (high), on October 20, 2026. The outlook changed to stable from positive.

1 point · 0 major

PositiveiHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 1 point

How the balance works

Positive

• Moderate pointDBRS upgraded BBVA’s long-term senior issuer rating one notch to AA (low).

Negative

• Minor pointThe outlook changed from positive to stable.

Key Figures

Rating action: One notch, from A (high) to AA (low) Rating outlook: Stable, changed from positive

2 metrics

Rating action One notch, from A (high) to AA (low) Morningstar DBRS long-term senior issuer rating, October 20, 2026

Rating outlook Stable, changed from positive Morningstar DBRS ratings, October 20, 2026

Key Terms

long-term senior issuer rating, outlook, one notch

3 terms

long-term senior issuer rating financial

"BBVA’s long-term senior issuer rating"

outlook financial

"The outlook changed to stable from positive"

"Outlook" is the general expectation or forecast about how something, such as the economy, a market, or an investment, is likely to perform in the future. It helps investors understand potential risks and opportunities, much like a weather forecast helps people prepare for upcoming conditions. A clear outlook guides decision-making and planning by providing an informed view of what might happen next.

one notch financial

"upgraded by one notch"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is BBVA’s new long-term senior issuer rating?

Morningstar DBRS upgraded BBVA’s long-term senior issuer rating by one notch to AA (low) from A (high) on October 20, 2026.

What is the outlook for BBVA’s rating?

Morningstar DBRS changed the outlook on BBVA’s ratings to stable from positive on October 20, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 6-K: How Foreign Companies Report to the SEC →

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Available on EDGAR 10/20/2026 - 01:46 PM EDT Accepted by SEC EDGAR 10/20/2026 - 01:46 PM EDT Learn about SEC filing dates

UNITED STATES SECURITIES AND EXCHANGE
COMMISSION 

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of October, 2026

Commission file number: 1-10110

BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 

(Exact name of Registrant as specified in its charter)

BANK BILBAO VIZCAYA ARGENTARIA, S.A. 

(Translation of Registrant’s name into English)

Calle Azul 4, 

28050 Madrid 

Spain

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F   x Form 40-F   ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Yes   ¨ No   x

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Yes   ¨ No   x

 

Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), in compliance with the Securities Market legislation, hereby communicates the following:

OTHER RELEVANT INFORMATION

Today October 20th, 2026, Morningstar DBRS (DBRS) has upgraded by one notch BBVA’s long-term senior issuer rating to AA (low) from A (high). The outlook changed to stable from positive.

DBRS has also taken the following actions over other BBVA’s ratings:

· Confirmed short-term issuer rating at R-1 (middle) with stable outlook.

· Upgraded by one notch long-term senior debt rating to AA (low) from A (high) and outlook changed to stable from positive.

· Confirmed short-term debt rating at R-1 (middle) with stable outlook.

· Upgraded by one notch subordinated debt rating to A from A (low) and outlook changed to stable from positive.

· Upgraded by one notch long-term deposits rating to AA (low) from A (high) and outlook changed to stable from positive.

· Confirmed short-term deposits rating at R-1 (middle) with stable outlook.

· Upgraded by one notch senior non-preferred debt rating to A (high) from A and outlook changed to stable from positive.

· Confirmed long-term critical obligations rating at AA with stable outlook.

· Confirmed short-term critical obligations rating at R-1 (high) with stable outlook.

Madrid, October 20th 2026

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Banco Bilbao Vizcaya Argentaria, S.A.
Date: October 20, 2026	By:	/s/ Patricia Bueno Olalla
	Name:	Patricia Bueno Olalla
	Title:	Head of Investor Relations