The Hispanic Lord is shocked to hear someone speak to him in Spanish, and a proper version no less. However it is the hint of the ceceo (lisp) that makes Ricardo think "Spaniard." He turns to face Dillon. "Buenos tardes Jefe Connery. No sabe que hablas Español." (Good evening, Leader Connery. I did not know that you spoke Spanish.) In contrast to Dillon, Ricardo's speech is obviously Mexican, and of the northern variety.
In response to his question, Ricardo continues, "Rodriguez es correcto. Pero unos personas equivocadamente dijeron Reyes." (Rodriguez is correct. But some people mistakenly said Reyes.) He was glad that Dillon knew his correct last name. The Lord takes the Savage's hand and shakes it firmly, to show he respects the man.