BBVA in 2012

The exposure breakdown by rating of the parent company and subsidiaries in Spain, includingcorporations, financial institutions, and sovereign institutions and customers, shows 53.4%of A or better ratings. Also shown is the breakdown by rating of the business and developersegments handled by BBVA Spain, and of the loan book with corporates and financialinstitutions in Mexico.19 Distribution by rating in Spain (1)(Exposure as of 31-12-2012)43.6%9.8%11.7%7.7%8.8%4.7%2.9% 2.3% 2.3% 2.4%1.7%2.1%AAA/AA A BBB+ BBB BBB– BB+ BB BB– B+BB–C(1) Including companies, financial institutions, public institutions and sovereign risks.20 Distribution by rating. Corporates and developers in Spain (1)(Exposure as of 31-12-2012)20.2%16.8%11.1%9.3%8.4%6.3%5.6% 5.1% 5.1%5.7%4.1%2.5%AAA/AA A BBB+ BBB BBB– BB+ BB BB– B+BB–C(1) Including only the banking book.The breakdown of the loan book in Mexico with corporates and financial institutions by rating inMexico is shown in Chart 21.21 Distribution by rating in Mexico(Exposure as of 31-12-2012)17.6%12.5%13.5% 13.9%8.1%8.5%9.4%6.2%5.2%1.9%AAA/AA A BBB+ BBB BBB– BB+ BB BB– B+B2.3%B–0.7%CCC/CCCredit risk103