S&P: Uruguayan banks up to positive

Standard & Poor's said it revised the outlook on its long-term counterparty credit ratings on Uruguayan banks to positive from stable as a result of a similar action on the Uruguayan sovereign ratings.

S&P said it also affirmed its B+/B credit ratings on Banco Bilbao Vizcaya Argentaria Uruguay, Discount Bank Latin America SA and Citibank NA (Uruguay Branch).

"The financial system's operating environment has been gradually improving in recent years and the rated Uruguayan banks enjoy comfortable liquidity and sound financial flexibility," said S&P credit analyst Carina Lopez.

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