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Article: Fitch Affirms Banco del Pichincha's IDR at 'B-'; Outlook Negative.
- Article from:
- Business Wire
- Article date:
- February 14, 2007
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NEW YORK -- Fitch has affirmed Banco del Pichincha's (Pichincha) long-term and short-term Issuer Default Ratings (IDRs) as follows:
-- Foreign currency long-term IDR at 'B-';
-- Foreign currency short-term rating at 'B';
-- Support rating at '5'.
The Rating Outlook is Negative.
The affirmations reflect Banco del Pichincha's strong franchise in Ecuador, its broad deposit base, its adequate liquidity and its improving financial performance. Pichincha's ratings are above Ecuador's sovereign ratings (long-term IDR 'CCC' on a Negative Watch by Fitch) because it has very little exposure to government debt and it has sound liquidity ...