Moody's rates Banco Bisa B2, Bisa Leasing B3

Moody's Investors Service said it assigned Banco Bisa SA an E bank financial strength rating, a B2 global local-currency deposit rating, an Aa2.bo Bolivian national scale deposit rating, long- and short-term foreign-currency deposit ratings of Caa1 and Not Prime, respectively, and an A2.bo national scale foreign-currency deposit rating. The outlook is stable.

Moody's also assigned global long-term foreign- and local-currency debt ratings to Bisa Leasing SA of B3 and Bolivian national scale foreign- and local-currency debt ratings of Aa3.bo. The outlooks on these ratings are also stable.

The E bank financial strength rating reflects Banco Bisa's still-weak asset quality and modest profitability, both of which are pressured by a difficult operating environment, the agency said. Banco Bisa went under a major management and business restructuring in 2004, which also included a revamping of its risk-management processes and architecture.

The agency said the ratings assigned to Bisa Leasing reflect the importance of its franchise as the only operating leasing company in the Bolivian market. The ratings also incorporate Bisa Leasing's consistently positive operating performance and its conservative risk management.

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