S&P: Oriental Financial outlook up to stable

Standard & Poor's said it revised its outlook on Oriental Financial Group and subsidiary Oriental Bank & Trust to stable from negative.

At the same time, the agency said it affirmed its BB+ long-term counterparty credit rating on Oriental Financial and its BBB- long-term counterparty credit rating on Oriental Bank.

"The outlook revision reflects reduced credit-sensitive exposures in the relatively large available-for-sale securities book through the sale of a large proportion of non-agency securities, so the risk of substantial near-term securities losses has diminished in its opinion," said credit analyst Lidia Parfeniuk.

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