Moody’s: Banco Nacional de Costa Rica debt Ba2

Moody's Investors Service said it assigned a Ba2 foreign currency senior unsecured debt rating to Banco Nacional de Costa Rica's proposed global senior debt issuance.

The outlook is negative.

The instrument will be denominated in Costa Rican colon (CRC). However, all amounts related to the issuance will be payable in dollars at the then-prevailing exchange rate. The bonds will be governed by the laws of the State of New York.

Moody’s said the Ba2 rating incorporates the bank's full government ownership, the government's guarantee of the bank's senior obligations per Article 4 of the Organic Law of the National Banking System, and Banco Nacional de Costa Rica’s public mandate and importance as the country's largest bank.

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