S&P upgrades BBVA's rating

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

RELEVANT INFORMATION

Today April 6, 2018, Standard & Poor's Ratings Services (S&P) has upgraded BBVA's long-term rating ("Issuer Credit Rating - ICR") to A- from BBB+. The outlook has changed to stable from positive.

S&P has also taken the following actions over other BBVA's ratings:

● Upgraded BBVA's senior non preferred debt rating to BBB+ from BBB.

● Upgraded BBVA's subordinated debt rating to BBB from BBB-.

● Upgraded BBVA's preferred stock rating to BB from BB-.

● Affirmed BBVA's short-term rating at A-2.

Madrid, April 6, 2018