Fitch affirms Banco Industrial

Fitch Ratings said it affirmed Banco Industrial, SA's long-term foreign and local currency issuer default ratings at BB, foreign and local currency short-term issuer default ratings at B and viability rating at bb.

The outlook is negative.

“Industrial's issuer default ratings, which are driven by its VR, are rated at the sovereign level,” the agency said in a news release.

“The country's mild economic prospects and heightened political tensions could influence the business environment and the local banks' performance, and limit Industrial's international ratings, as reflected in the negative outlook of its issuer default ratings.”

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