S&P affirms Banco Continental de Panama

Standard & Poor's said it affirmed Banco Continental de Panama SA's BBB-/A-3 counterparty credit ratings. The outlook is stable.

The agency said the ratings affirmation is based on the bank's constant performance of key metrics. The ratings are supported by Banco Continental's market position as one of the dominant banks in Panama, its good business mix, good financial performance and the efficiency of its operations.

Balancing these factors are a large exposure to the real estate sector, a characteristic of the banking system in the country and strong competition in the market place, the agency said.

© 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.