Fitch rates Banco General AAA(cri) on parent company support

- Tuesday, February 22, 2011

Fitch rates Banco General AAA(cri) on parent company support

Ratings agency Fitch has assigned a national scale rating of AAA(cri) to Costa Rican bank Banco General (BGCR) with a stable outlook, the agency said in a press release.

The assigned rating is based on the support of the bank's parent company, Panama-based bank Banco General, even though it has no legal obligation to do so, while the stable outlook reflects Fitch's view that the quality of BGCR's credit portfolio will remain unchanged, the report reads.

The bank has a highly concentrated loan portfolio, given its current stage of development in the Costa Rican banking industry, but the bank does not release a 90-day non-performing loan portfolio.

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To read the full report in Spanish, go to this link