Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 688

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 688
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 they may have specific clauses such as long grace periods, or they may have amounts written off as they are considered to be non-recoverable.The algorithm then changes the initial classification depending on the established cure periods. Reclassification into a lower risk category will only be considered if evidence exists of a continuous and significant improvement in the recovery of the debt over time; therefore, the act of refinancing does not in itself produce any immediate improvements. A-576

Refinancing, refinanced and restructured transactions remain identified as such during a probation period until all of the following requirements are met:

| – | It is concluded, having reviewed the borrower’s assets and financial position, that the borrower is unlikely to 
 experience financial difficulties.                                                                              |

| – | A minimum of two years have passed since the date of the restructuring or refinancing or, if later, since the date of 
 reclassification to the stage 3 category.                                                                             |

| – | The borrower has paid the instalments of principal and interest accumulated since the date of the refinancing or 
 restructuring or, if later, since the date of reclassification to the stage 3 category.                          |

| – | The borrower has no other transactions with amounts more than 30 days past due at the end of the probation period. |

Refinancing, refinanced and restructured transactions remain in the stage 3 category until it can be verified that they meet the general criteria for reclassification from stage 3 into a different category, particularly the following requirements:

| – | It is concluded, having reviewed the borrower’s assets and financial position, that the borrower is unlikely to 
 experience financial difficulties.                                                                              |

| – | One year has passed since the date of the refinancing or restructuring. |

| – | The borrower has paid the accumulated instalments of principal and interest. |

| – | The borrower has no other transactions with amounts more than 90 days past due on the date on which the refinancing, 
 refinanced or restructured transaction is reclassified as stage 2.                                                   |

In the case of refinanced/restructured loans classified as stage 2, in addition to the general classification criteria, certain specific criteria are applicable which, if met, lead to reclassification into one of the higher risk categories described previously (i.e. into stage 3, as a result of borrower arrears, when payments are, in general, over 90 days past due, or for reasons other than borrower arrears, when there are reasonable doubts as to their recover