Fitch: Banco de Comercio outlook up to stable

Fitch Ratings changed the outlook on the long-term foreign currency rating for Banco de Comercio de El Salvador to stable from negative and affirmed Banco de Comercio de El Salvador's ratings at long-term foreign currency BB, short-term foreign currency B, individual D and support 5.

Fitch said the change in outlook is based on the bank's gradually improving asset quality and profitability.

The ratings also reflect the bank's position within the local market as the fourth largest bank in El Salvador and its well-diversified client base but also high levels of non-earning assets as a proportion of equity, according to Fitch.

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