Fitch revises view to stable on three Ecuadoran banks

Fitch Ratings said it revised the outlook for three Ecuadoran banks to stable from negative following a revision to the outlook for Ecuador to stable from negative.

The three banks are Banco Pichincha CA y Subsidiarias, Banco de la Produccion SA y Subsidiarias, and Banco Guayaquil SA (Guayaquil).

“Fitch expects the more stable Ecuadorian operating environment to gradually benefit the banks' potential growth and financial profile, but their ratings will likely remain constrained by the still-low sovereign rating,” the agency said in a press release.

Fitch affirmed each of the bank’s B- long-term issuer default ratings.

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