PUERTO RICO, May 21, 2009 (Info-Prod Research) -- Moody's Investors Service placed all debt anddeposit ratings of Banco Bilbao Vizcaya Argentaria Puerto Rico (long-termdeposits A2) under review for possible downgrade. Banco Bilbao VizcayaArgentaria Puerto Rico (BBVAPR) is wholly-owned by its ultimate parent,Banco Bilbao Vizcaya Argentaria, S.A. (bank financial strength B, seniorAa1). The rating action reflects that the ratings of BBVAPR's parent, BancoBilbao Vizcaya Argentaria , S.A. (BBVA), were placed on review forpossible downgrade on May 19, 2009. The long-term debt and depositratings of BBVAPR currently benefit from three notches of lift due toMoody's strong belief that BBVA would support its subsidiary ifnecessary. The short-term rating also benefits from parent support. IfBBVA's ratings were lowered, then the long and short-term debt anddeposit ratings of BBVAPR would also be lowered. BBVAPR's C- bank financial strength rating with a negative outlook was not impacted by this change as it does not incorporate parent support. Moody's last rating action on BBVAPR was on April 14, 2009, when the BFSR was downgraded to C- from C, and long-term deposits to A2 from Aa3. Following the downgrade, the outlook was negative.