Moody's turns Banco de Credito view to positive

Moody's Investors Service said it affirmed all of Banco de Credito e Inversiones' (Bci) ratings, including its A2 long-term foreign-currency senior unsecured ratings and changed the outlook to positive from stable.

“The change in outlook to positive from stable, on Bci's senior debt and deposit ratings is in line with Moody's assessment of a potentially higher government support for the bank owing to its substantial client acquisition over the last four years. Moody's believes that Bci's systemic importance stands to increase as the bank manages to expand its market share of the system's deposits beyond the 13% the bank has had in the last six years when it began its expansion, by converting new clients into depositors,” the agency said in a press release.

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