Fitch affirms HSBC Bank Panama

Fitch Ratings said it affirmed HSBC Bank Panama's foreign-currency long-term issuer default rating at BBB+, foreign-currency short-term issuer default rating at F2, long-term national rating at AAA(Pan), short-term national rating at F1+(Pan) and senior unsecured debt rating at AAA(Pan).

The outlook is positive.

The ratings reflect the support the bank would receive from its parent, HSBC, should it be required, Fitch said. The ratings also consider its strong franchise, market share, and improving efficiency, Fitch said.

The ratings are constrained by Panama's country ceiling, the agency said, and tough competitive environment.

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