S&P: Oriental Financial view stable

Standard & Poor's said it affirmed Oriental Financial Group's BB+ counterparty credit rating and revised the outlook to stable from negative.

The rating reflects heavy reliance on wholesale funding to support the group's significant concentration in investment securities and geographically concentrated business in Puerto Rico, the agency said.

Ratings also consider Oriental's low credit risk profile in the loan book, good cost discipline and robust capital metrics, according to S&P.

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