Moody’s revises Bantrab to positive

Moody's Investors Service said it changed the outlook of Guatemala's Banco de los Trabajadores (Bantrab) to positive from negative and affirmed the bank's Caa1/Not Prime long and short-term local and foreign currency deposit ratings.

The agency also changed the outlook of Bantrab Senior Trust (BST), a Cayman-Island based trust guaranteed by Bantrab, to positive from negative and affirmed the trust's Caa2 foreign currency senior unsecured debt rating.

At the same time, Moody’s affirmed the bank's caa2 standalone baseline credit assessment (BCA) and adjusted BCA, as well as its B3(cr)/Not Prime(cr) long and short-term counterparty risk assessments.

“The outlook change follows the timely payment of the coupon on BST's global bond on 14 November 2017 and considers the bank's establishment of a new international payment mechanism via a local brokerage house, which helps reduce international payment risks,” Moody’s said in a news release.

“The positive outlook also incorporates Bantrab's recent initiative to strengthen its corporate governance by reshuffling a part of senior management and starting to improve risk management and control practices.”

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