Moody's changes Banco de Costa Rica view to negative

Moody's Investors Service said it affirmed Banco de Costa Rica's Baa3 foreign-currency senior debt rating and changing the outlook to negative from stable.

The rating action is in line with similar actions on Moody's Baa3 rating for the government of Costa Rica. The agency said that because of the bank's financial and business linkages with the Costa Rican government, including large securities holdings, and its predominantly domestic operations, the bank's standalone ratings are aligned with the government's risk, as reflected in the sovereign's Baa3 bond rating, and are effectively limited by that rating.

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