Company: BBVXF
Filing Date: 2025-09-05
Form Type: F-4/A
Source: 0001193125-25-196513
Chunk: 693

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-05
Form: F-4/A
Chunk 693
---
 a reduction in the 
 price of debt issues.                                                                                                 |

| • |     | Significant fall in the internal credit rating of the borrower. |

| • |     | Significant increase in credit risk of other transactions of the same borrower, or in entities associated with the 
 borrower’s risk group.                                                                                             |

| • |     | For transactions secured with collateral, significant decline in the value of the collateral received. |

Stage 3 triggers:

| • |     | Negative EBITDA, significant decrease in EBITDA, in turnover, or in general, in the borrower’s recurrent cash 
 flows.                                                                                                        |

| • |     | Increase in the borrower’s leverage ratios. |

A-574

| • |     | Negative equity or equity reduction as a result of the borrower suffering equity losses of 50% or more in the past 
 year.                                                                                                              |

| • |     | Existence of an internal or external credit rating showing that the borrower is in arrears. |

| – | Existence of debt remissions or debt reductions to the same borrower or to companies associated with the 
 latter’s risk group in the last 2 years.                                                                 |

| – | Existence of a borrower’s past-due commitments of significant value 
 with public bodies.                                                 |

| – | Breach of contract, defaults or delayed payments of principal or interest: in addition to amounts more than 90 days                                                                                            
 past due, which form part of the automatic classification algorithm, amounts less than 90 days past due are also identified, as these can be a sign of impairment or of a significant increase in credit risk. 
 Non-payments declared in other credit institutions in the financial system are also considered in the assessment.                                                                                              |

| – | Borrowers experiencing financial difficulties are granted concessions or advantages that would not otherwise be                                                                                                                                          
 considered: refinancing the debt of an obligor experiencing financial difficulties could prevent or delay their failure to honour their payment obligations, whilst at the same time preventing or delaying the recognition of the impairment associated 
 with the financial asset linked to that obligor.                                                                                                                                                                                                         |

| – | Probability of the borrower becoming insolvent: in cases in which there is a high probability that a borrower will                                                                                                         
 enter bankruptcy or other financial reorganisation, the solvency of the issuers or obligors is ostensibly affected, which could give rise to a loss event depending on the impact on future cash flows pending collection. |

The Group carries out an annual review of the reasonableness of its thresholds