Moody's ups Banco Industrial to positive

Moody's Investors Service said it changed the outlook on Banco Industrial SA to positive from stable and affirmed the bank's Baa3 local- and Ba2 foreign-currency long-term deposit ratings.

The outlook is stable.

The ratings reflect the bank's leading franchise in Guatemala, capable management and supportive shareholder group with a successful track record of growth and diversification during the past several years, the agency said.

The outlook reflects the bank's increasing franchise value and resulting improving profitability as well as its favorable prospects for further growth within its home country and target markets of Central America, a natural footprint for the bank and its clients, the agency added.

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