Fitch gives BBB to Banistmo notes

Fitch Ratings said it assigned a BBB(EXP) rating to Banistmo, SA’s proposed senior unsecured notes.

The amount of this issue is expected to be $300 million, with a tenor up to 10 years.

Proceeds will be used for general corporate purposes. The agency said it considers that the notes do not materially alter the risk profile of the issuer.

The senior unsecured notes are rated at the same level as the bank's issuer default rating, in accordance with Fitch's rating criteria, as the notes are senior unsecured obligations of Banistmo and will rank pari passu, without any preference among themselves, equally in right of payment to all of Banistmo's existing and future senior unsecured debt.

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