Fitch rates Interacciones BB

Fitch Ratings said it assigned a BB long-term issuer default rating, B short-term issuer default rating, C/D individual rating, 5 support rating and "No Floor" support rating floor to Banco Interacciones, SA.

The agency also assigned an A(mex) national scale rating to the bank for long-term local issues of senior unsecured debt, assigned an F1(mex) national scale rating for short-term local issues of senior unsecured debt and affirmed the bank's other national scale ratings, including the A(mex) long-term rating, F1(mex) short-term rating and A-(mex) rating for long-term local issues of subordinated unsecured debt.

The outlook is stable.

The agency said Interacciones' ratings benefit from its good financial performance, adequate track record on asset quality, improved risk management practices and favorable franchise on public sector lending activities.

The ratings also consider negative factors such as the bank's modest lending diversification, high borrower concentration and funding sources, growing competition and acceptable capitalization, Fitch said.

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