TABLE - Fitch affirms BBVA long-term IDR at AA-.

(ADPnews) - Nov 15, 2010 - Fitch confirmed on Friday the long-term issuer default rating (IDR) of Spanish commercial bank BBVA (MCE:BBVA) at AA-.

The short-term IDR was affirmed at F1+, while the outlook IDR was revised to "stable" from "positive". Fitch also downgraded the individual rating to "B" from "A/B".

The outlook revision reflects a difficult operating environment in Spain, with the economy seen to report muted growth over the next three years, and unemployment at around 20%.

BBVA's strong retail franchise in Spain, Mexico, and other Latin American countries, as well as its robust profitability, and ability to generate good earnings over different …