The 28-year-old spent three years at the Andalusian club and was part of the team that won promotion to the Primera Division in 2011.
He made a total of 113 appearances before moving to Athletic last summer, but will head into Monday night's game fully focused on the task in hand.
"I hope I'm given a good reception, but I'm not really thinking about that. I'm more concerned about the team picking up points away from home after not doing so in the last two games," he said.
"Of course it's a special game for me, but that doesn't stop it from being another game where three important points are at stake."
Athletic moved up to fifth in La Liga with a 2-1 win over Real Betis on Thursday, and, although Rico acknowledged his side have made an impressive start to the season, he stressed the squad must not get carried away.
"It's too early to start thinking about Europe, with just six games played, but it's true we have made an exciting start," he said.
"We don't want to stop anyone from dreaming but we, the players, need to keep our feet on the ground. It's a cliche to say we need to take it one game at a time but that's the attitude we will have come the end of the season when we are fighting for our objective."
Borja Ekiza and Enric Saborit have not been named in the squad, despite returning to full training, while Kike Sola and Mikel Balenziaga are still out with injuries.
Granada, meanwhile, will be without striker Piti, who is still recovering from a hamstring injury, and centre-back Diego Mainz is a doubt.
Lucas Alcaraz's team have lost all three of their home games this season 1-0 but Rico emphasised their defensive qualities.
"They are tactically astute and they know how they want to play, and concede very few goals," he added.