Moody's changes Salvadoran banks view to positive

Moody's Investors Service said it affirmed the ratings and assessments of Banco de Desarrollo de El Salvador (Bandesal) and Banco Agricola, SA, and changed their outlooks to positive from stable. Bandesal's B3 long-term foreign-currency issuer rating and Banco Agrícola's B1 long-term foreign-currency deposit rating were affirmed.

Moody's also affirmed the B1 long-term foreign-currency debt rating of Banco Agrícola's $300 million senior debt issuance due in June, issued through a Cayman Islands-based trust, Agrícola Senior Trust and changed the outlook to positive from stable. Agricola Senior is guaranteed by Banco Agrícola.

The rating actions follow Moody's affirmation of El Salvador's B3 government bond, and the change of the outlooks to positive, from stable.

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