Moody’s views Banco Continental positively

Moody’s Investors Service said it revised its outlook for Banco Continental Saeca to positive from stable and affirmed the bank’s Ba1 senior unsecured rating.

“The positive outlook is in line with the positive outlook on the Government of Paraguay, and reflects Moody's view that should the government's rating be upgraded, Continental's deposit and senior unsecured debt ratings would receive a one-notch uplift derived from our assessment of a high probability of government support that would be provided to the bank in an event of stress.

“Our view is backed by the systemic importance of the bank as the second-largest bank in the system, with 15% deposit market share as of September 2023,” the agency said in a statement.

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