Fitch lowers Bicbanco view to stable

Fitch Ratings said it revised the outlook on Banco Industrial e Comercial SA's (Bicbanco) long-term national rating to stable from positive.

The agency also affirmed its long-term national rating at A+(bra) and short-term national rating at F1(bra).

The outlook revision is due to a larger than expected deterioration of the bank's asset quality in 2011, Fitch said.

The deterioration was due to the combined effects of an increase in delinquency ratios with a more challenging economic scenario, the agency said.

An additional factor was the implementation of more strict provisioning criteria in order to enhance the bank's alignment with the Brazilian central bank's regulations, Fitch said.

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