Ratings roundup: G&T Continental, Banco Industrial, BICSA

- Wednesday, December 14, 2011

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Standard & Poor's (S&P) has upgraded the long-term rating of Guatemalan bank Banco G&T Continental to BB from BB-, with a negative outlook, the ratings agency said in a release.

S&P also confirmed its short-term rating of B for the bank.

The ratings reflect G&T Continental's solid position, ability to generate profits and adequate liquidity. However, the ratings could drop if Guatemala's sovereign ratings decrease, the agency said.

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Guatemalan bank Banco Industrial was also upgraded to BB from BB- by S&P, with a negative outlook, according to a release by the ratings agency.

Similarly to Banco G&T Continental, the ratings reflect Banco Industrial's solid position, ability to generate profits and adequate liquidity.

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

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S&P maintained its long and short-term ratings of BB and B, respectively, with stable outlooks, for international bank of Costa Rica BICSA, S&P said in a report.

The ratings reflect the bank's adequate liquidity and position in the market, as well as its moderate capacity to generate profits, ratings agency said.

It is hoped that BICSA will continue to improve its financial performance through stricter operational controls and improved corporate governance, the agency noted.

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

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