S&P affirms Vision SA de Finanzas

Standard & Poor' said it affirmed its B- long-term counterparty credit rating on Vision SA de Finanzas ECA.

The outlook is stable.

The ratings balance the risks inherent to operating in risky market segments in the volatile Paraguayan financial system with the company's positive features, which include cautious asset liability management policies, management experience in developing businesses in environments of high financial stress and good revenue diversification, with a relatively high participation of fee income in total revenues for a company of its size and profile, S&P said.

The company has continued improving its competitive position with leading market shares in terms of assets, loans and deposits among the Paraguayan financial companies, S&P said.

But to sustain further steady loan growth in the mid-to-long term, Visión still needs to receive new capital contributions and thus, to generate loan-loss coverage in accordance with the risks it faces, S&P said.

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