Fitch rates Banco Pine notes BB

Fitch Ratings said it assigned a BB(exp) rating to Banco Pine SA's upcoming issue of Swiss franc denominated senior unsecured notes.

The agency said the expected rating assigned to Banco Pine's new issuance corresponds to the issuer default ratings for the bank and ranks equal with other senior unsecured debt.

The agency said the bank's strengths include its continued diversification of its funding profile, its good asset and liability management allied with a good liquidity position, its good asset quality and its strong capitalization ratios.

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