S&P upgrades Inversiones Atlantida

S&P said it upgraded the long-term global scale issuer credit rating on Inversiones Atlantida SA to B+ from B, along with the issue-level ratings on the bank's senior unsecured notes of up to $150 million rating to B+ from B.

The outlook is stable.

The upgrades follow a similar action on the Honduras global sovereign rating, S&P said.

The sovereign upgrade reflects Honduras' fiscal flexibility improvement as a result of a track record of disciplined public finance policies, the agency said.

The upgrade also considers an expectation that government's commitment to fiscal responsibility will prevent a ramping up in spending during the current electoral process, S&P said.

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