Moody's rates Banco Industrial

Moody's Investors Service said it assigned a D bank financial strength rating to Banco Industrial SA.

Moody's also assigned a global local-currency long-term deposit rating of Baa2, as well as a short-term deposit rating of P3, a foreign currency deposit rating of Ba3 and a short-term foreign-currency deposit rating of not prime. The outlook is stable.

Moody's said the ratings on Banco Industrial reflect its established business franchise in the corporate and local retail sectors, where it ranks as the largest bank in the system, with dominant market shares of 20% in the deposit and loan markets.

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