Fitch downgrades Interbank

Fitch Ratings said it downgraded Banco Internacional del Peru SAA's (Interbank) long-term issuer default ratings and viability rating to BBB from BBB+ and BBB from BBB+, respectively.

Fitch also downgraded the issuer default ratings of Interbank's holding company, Intercorp Financial Services, Inc.'s to BBB- from BBB.

The outlook is stable.

The downgrades are driven by the deterioration of its capital adequacy and funding metrics, Fitch said.

The ratings are highly influenced by its company profile as the fourth largest universal commercial bank in Peru with market share by assets of 12% at year-end 2018, Fitch said, and its leadership in retail banking in the country.

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