Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 599

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 599
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 amended to extend the term to maturity, or to amend the repayment schedule so as to the reduce repayment instalment amounts in the short term or reduce their payment frequency, or to establish or extend the grace 
 period for the repayment of principal, interest, or both, are all considered restructured transactions, except when it can be proven that the terms are being amended for reasons other than borrowers’ financial difficulties and that the amended     
 terms are analogous to those that would be applied in the market, on the date of such amendment, to transactions with a similar risk profile.                                                                                                           |

If a transaction is classified into a particular risk category, refinancing does not mean that its risk classification will automatically improve. The algorithm establishes the initial classification of refinanced transactions based on their characteristics: they may be based on an inadequate business plan, 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-487

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