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Moody’s revises Bladex to negative
Moody's Investors Service said it changed the outlook of Banco Latinoamericano de Comercio Exterior (Bladex) to negative from stable and affirmed its Baa2 long-term foreign currency deposit and senior unsecured debt ratings, as well as all of its other ratings and assessments.
Moody’s said the outlook change reflects its expectations that loan growth will remain subdued during 2018 following a sharp contraction this year.
“Despite the contraction of the loan book, profitability has remained strong, with return on assets equal to 1.3% in the first nine months of the year, in line with the bank's results over the previous two years,” the agency said in a news release.
“Nevertheless, with lending spreads remaining narrow, Moody's believes the bank will be challenged to maintain returns at these levels unless its loan book begins to show healthier growth.”
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