Moody’s turns Ripley outlook to negative

Moody’s Investors Service said it revised its outlook for Banco Ripley to negative from stable and affirmed its Baa3 ratings.

“Moody's changed Banco Ripley's rating outlook to negative, from stable, in line with lower profitability as the bank faces increasing provisioning needs amidst Chile's economic slowdown in 2023 and still-high inflation pressures on consumers' disposable income, which has hurt the repayment capacity of households. The bank faces a more negative cycle with lower capitalization resulting from a strong increase in deductions of intangibles, high loan growth and lower internal capital generation,” the agency said in a press release.

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