S&P lowers Vision Banco

Standard & Poor’s said it lowered the long-term issuer credit on Vision Banco to B+ from BB- and its stand-alone credit profile to B+ from BB- following the revision of the bank’s capital and earning to weak from moderate.

The outlook remains negative.

The downgrades follow the revision of an assessment of the bank’s capital and earnings from weak to moderate, S&P said.

The agency also said it lowered the bank’s issuer credit ratings to B+ from BB-.

The ratings reflect the bank’s adequate business position, weak capital and earnings, adequate risk position, above average funding and adequate liquidity, S&P said.

The ratings also consider the bank’s significantly lower results in 2015 due to higher credit losses and loan-loss provisions, the agency said.

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