Fitch affirms Popular

Fitch Ratings said it affirmed Popular, Inc.'s long-term issuer default rating of A- and removed it from Rating Watch negative. The action follows the sale of a large part of Equity One's loan portfolio to American General Finance, Inc.

Proceeds will sharply reduce liquidity pressure at Popular and its sub-holding company, Popular North America, the agency said.

The negative outlook stems from continued profitability and asset quality pressures, the agency said.

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