Fitch revises Hipotecaria bond view to negative

Fitch Ratings said it revised the outlook to negative from stable and affirmed the BBB rating of Banco La Hipotecaria, SA's mortgage covered bonds.

The rating action follows the affirmation of Panama's long-term issuer default rating at BBB and the revision of its outlook to negative from stable, considering that the covered bond program is constrained by the sovereign rating.

The negative outlook for Panama reflects a marked deterioration in fiscal deficits and a significant increase in the government's debt burden.

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