Fitch upgrades Banco Los Andes Procredit ratings
Bnamericas Published: Monday, June 12, 2006
Fitch Ratings has raised the long and short-term ratings of Bolivia's Banco Los Andes Procredit to AA(bol) from A+ and to F1+(bol) from F2(bol), the ratings agency said in a statement. The outlook is stable. The ratings action is based on the support of bank parent ProCredit Holding, rated BBB- by Fitch. Procredit ranks ninth in the local banking system with an asset market share of 4.5%. The bank is a leading financial institution in the microfinance segment. To read Fitch's full report on Banco Los Andes Procredit in Spanish, go to this link.
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