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Fitch Ratings
Its long term outlook is “stable”.
Banconal’s rating was increased following Fitch’s upgrade of
Panama’s soverign rating to “BBB-“. Such upgrade reflected sustained improvements in Panama’s public finances, strengthened by recent tax reforms and its resistance to the global economic crisis.
Banconal’s ratings reflect how its sole shareholder, the Republic of Panama, would support it if needed. Fitch considers that the Bank would receive assistance from the Government, given its importance for the financial system, its creation law and its role as the State's financial agent.
Source: Fitch Ratings
More on this topic
February 2009
Fitch confirms Panamanian long-term foreign and local currency debt ratings as BB+, with a positive outlook.
Diálogo Ciudadano published on its website: "The decision reflects Fitch´s view about Panama's resistance to the global financial crisis, although the country will experience a cyclical slowdown and the outlook is not without risks," the agency said in a statement.
April 2008
In its semi-annual review of national ratings assigned to Costa Rican financial institutions, based on results to Dec. 31, 2007, Fitch announced the ratings it has given.
The ratings are as follows:
Banco Crédito Agricola de Cartago: AA+(cri) for the short term. Outlook: stable.
May 2010
Standard & Poor’s rated Panama as investment grade; Fitch did the same two months ago.
The risk rating agency raised Panama's long-term foreign- and local-currency sovereign credit ratings to “BBB-” from “BB+”.
"The upgrade reflects our assessment that continued economic growth--combined with moderate fiscal deficits--should reduce the government's debt burden and maintain its financial profile comfortably in line with that of other sovereigns in the 'BBB' rating category," said S&P credit analyst Roberto Sifon-Arevalo. The outlook on Panama is stable.
June 2009
Guatemala´s BB+ sovereign risk rating and stable perspective, which is so close to the desired “Investment Grade,” is facing four threats.
According to an article by C.Véliz and J. Gramajo in Sigloxxi.com, Mauricio Choussy, the director of Fitch Central America, notes that four weaknesses persist in the country: “Low tax revenue, weak social indicators, social instability, and high levels of delinquency.”
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