The ratings are as follows:
Banco Crédito Agricola de Cartago: AA+(cri) for the short term. Outlook: stable.
Banco de Costa Rica: AA+(cri), Stable.
Coopeservidores: A(cri), Stable.
HSBC (Costa Rica, S.A.): AAA(cri), F1+(cri), Stable.
Mutual Cartago de Ahorro y Préstamo (MUCAP): A(cri), F1(cri), Stable.
Scotiabank de Costa Rica: AAA(cri), F1+(cri), Stable.
Earlier, Fitch provided an initial rating to the stock market, as follows:
BN Valores Puesto de Bolsa: AA+(cri) for the long term and F1+(cri) for the short term. Outlook: Stable.
The complete ratings report is available at fitchcentroamerica.com.
Source: Fitch Ratings Centroamerica
More on this topic
April 2010
Fitch Ratings increased Panama’s Banco Nacional Long Term Rating to AA+ and ratified its short term rating at F1+.
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.
June 2008
The International Bank of Costa Rica (Banco Internacional de Costa Rica) has launched a debt issue in Panama with a maturity of three to five years.
With capital payments on maturity and quarterly interest payments the issue will be for 50 million dollars in series.
The issue, whose interest rate will be previously agreed to upon placement, is currently being subscribed.
September 2008
Fitch upgraded long term and short term ratings for FICOHSA bank to A-(hnd) and F1(hnd), up from BBB+(hnd) and F2(hnd), respectively.
At the same time it also upgraded the ratings for FICOHSA Corporate Bonds from BBB+(hnd) to A-(hnd). The outlook assigned is stable.
The new ratings reflex the strengthening of FICOHSA bank's networth, improvements in financial performance, and the strengthening of its participation in the commercial banking system market in Honduras.
September 2009
The Fitch report notes that the negative effects of the global crisis have intensified in Nicaragua.
Fitch Ratings – San Salvador/San José, September 24, 2009. The risks faced by microfinance institutions worldwide have aggravated over the past year. The lesser favorable economic conditions have deeply impacted the populational sectors in developing countries that have managed to overcome poverty and compose an important segment of microfinance institutions.
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