Fitch lifts Banco Interacciones

Fitch Ratings said it upgraded Banco Interacciones’ viability rating to BB+ from BB and long-term foreign- and local-currency issuer default ratings to BB+ from BB.

The short-term foreign- and local-currency ratings also were affirmed at B.

The long-term national scale ratings of Banco Interacciones, along with Interacciones Casa de Bolsa, SA de CV and Grupo Financiero Interacciones also were upgraded to A+(mex) from A(mex) and their short-term national scale ratings were affirmed at F1(mex).

Fitch also said it revised the outlook to stable from positive.

The upgrades were driven by an expectation of sustained strengths of the bank’s profitability and loss-absorption capacity, which partially offsets the bank’s concentrated loan portfolio and pressured maturities mismatches, the agency said.

The upgrades also consider the company’s consistent and good profitability over the last five years, Fitch said.

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