Fitch: Mercantil Commercebank view stable

Fitch Ratings said it affirmed Mercantil Commercebank Florida Bancorp and Mercantil Commercebank, NA's long- and short-term issuer default ratings at BB and B, respectively.

The outlook was revised to stable from negative, reflecting improvements in asset quality, earnings and solid capital levels and good liquidity profile.

Through its domestic parent, Mercantil Commercebank Holding Corp., the bank is beneficially owned by Mercantil Servicios Financerios, one of the largest financial institutions based in Venezuela.

On a standalone basis at the holding company, liquidity is considered ample, Fitch said.

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