Fitch affirms Banreservas

Fitch Ratings said it affirmed Banco de Reservas de la Republica Dominicana, Banco de Servicios Multiples' (Banreservas)'s foreign-currency issuer default rating at B, local-currency issuer default rating at B, short-term foreign-currency issuer default rating at B, short-term local-currency issuer default rating at B and national long-term rating at A+(dom) and national short-term rating at F-1(dom).

The outlook is stable.

The ratings reflect the support provided by its shareholder, the Dominican government, Fitch said.

The ratings also are supported by its ample market share, the stability of its deposit base and adequate liquidity, the agency said.

Decreasing profitability levels, a tight capital base and deteriorating asset quality metrics limit the ratings, Fitch added.

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