Fitch affirms Banco Macro

Fitch Ratings said it affirmed Banco Macro SA's foreign and local currency long-term issuer default ratings of B and its viability rating of b.

The outlook is stable.

The agency said that Argentina's operating environment remains an important driver and constraint of Macro's ratings.

Fitch said that in its view a reduction in regulatory risk, a correction of macroeconomic imbalances and economic recovery, will take time to materialize especially following the recent policy frictions and political headwinds that have led to market sentiment erosion and have significantly increased the downside risks to the macroeconomic outlook.

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