Fitch downgrades Atlantida, Invatlan

Fitch Ratings said it downgraded Banco Atlantida, SA's long-term foreign- and local-currency issuer default ratings to B from B+. Additionally, the agency lowered Inversiones Atlantida, SA y Subsidiarias' (Invatlan) IDRs to B- from B. Fitch also affirmed both companies’ debt ratings.

“Atlantida's and Invatlan's downgrades are driven by Fitch's view of a weakening in the credit quality of the sovereign. The rating action reflects Fitch's view that banks in Honduras, especially the largest ones, remain sensitive to the credit quality of the sovereign despite its resilient and tested financial profile during the pandemic-driven headwinds and remaining pressures in the operating environment (OE),” the agency said in a press release.

The outlooks are negative.

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