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Article: Fitch Affirms Ecuador's Banco del Pichincha's Ratings.
- Article from:
- Business Wire
- Article date:
- August 12, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Fitch Ratings has affirmed the long-term foreign currency and support ratings assigned to Banco del Pichincha and Subsidiaries at 'B-' and '5', respectively. At the same time, Fitch has assigned a short-term rating of 'B' to the bank.
Banco del Pichincha C.A. y Subsidiarias' (BPS) ratings reflect its strong and established franchise in Ecuador, its broad deposit base, good liquidity and its improving financial performance. They also reflect concerns over tight, albeit improving capital, as well as its volatile operating environment.
BPS is comprised of 19 financial companies located in Ecuador, Peru, Colombia, the Bahamas and Miami. Its ...