Fitch rates Banco Atlantida notes B

Fitch Ratings said it assigned a B expected rating and a RR4 recovery rating to Banco Atlantida, SA's proposed senior unsecured notes due 2023.

The amount of the issue is expected to be $350 million, with a tenor up to five years.

The agency also published Atlantida's long-term issuer default ratings of B with a stable outlook.

The notes will constitute direct, unconditional and unsecured senior obligations of the issuer and will rank pari passu among themselves and with all other unsubordinated and unsecured obligations of Atlantida, Fitch said.

The proceeds from the issuance will be used to fund credit growth focused in environmentally sustainable projects in Honduras, the agency said.

Fitch said it believes that the additional notes do not materially alter the risk profile of the issuer or of the outstanding debt previously rated.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.