Fitch ups Salvadorian banks

Fitch Ratings said it upgraded the long-term issuer default ratings of Banco Agricola, SA and Banco Davivienda Salvadoreno to B from B-.

The outlooks are stable.

The agency also upgraded Agricola's and Davivienda's viability ratings to b- from ccc and support ratings to 4 from 5, and affirmed their short-term issuer default ratings at B.

Fitch affirmed the national scale ratings of both banks and their respective local shareholders: Inversiones Financieras Banco Agricola and Inversiones Financieras Davivienda.

The upgrade follows the upgrade of El Salvador's sovereign rating.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.