Fitch acts on Panamanian banks

Fitch Ratings said it conducted a portfolio review of Panamanian Banks following its revision of Panama's sovereign outlook to stable from negative.

“Fitch has adjusted the outlook on its bb+ operating environment (OE) assessment of the Panamanian banking system to stable from negative. This is due to higher-than-expected economic recovery and declining risks that fiscal or economic pressures could affect the recovery prospects of the banks' financial performance,” the agency said in a press release.

Consequently, Fitch changed the outlooks to stable from negative of Banco Nacional de Panama, Banco General SA and Credicorp Bank.

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