Fitch affirms Fucerep

Fitch Ratings said it affirmed Cooperativa de Ahorro y Credito (Fucerep)'s local currency and foreign currency long-term issuer default ratings and viability rating at B- and b-, respectively.

The outlook is stable.

“Fucerep's issuer default ratings and VR are highly influenced by its small franchise within the Uruguayan financial system and the challenges the cooperative faces to improve its financial performance, specially earnings and profitability,” the agency said in a news release.

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