Fitch puts Costa Rican banks on negative watch

Fitch Ratings said it placed the long-term issuer default ratings of several Costa Rican banks and one Panamanian subsidiary on Rating Watch negative.

The banks on rating watch include Banco BAC San Jose, SA, Banco Davivienda (Costa Rica), SA, Banco de Costa Rica, Banco Internacional de Costa Rica, SA (Bicsa), Banco Nacional de Costa Rica and Banco Popular y de Desarrollo Comunal.

These actions follow the placement of the Costa Rican sovereign on Rating Watch negative, indicating that the long-term issuer default ratings on the banks move in tandem with the Costa Rican sovereign rating and country ceiling, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.