S&P: Financiera de Desarrollo view to negative

Standard & Poor’s said it revised the outlook on Financiera de Desarrollo Nacional SA to negative from stable.

The agency also said it affirmed the bank’s BBB long-term issuer credit rating.

The outlook revision reflects the rising industry risk for banks operating in Colombia, S&P said.

The bank’s ratings reflect three notches of support based on a very high likelihood of extraordinary government support, the agency said.

The agency also said it revised the score on the bank’s funding and liquidity to adequate from moderate because the bank’s funding was reassessed to average from below average.

S&P added that it believes the bank’s stable funding sources with long-term maturities compensate for lack of deposits.

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