Bancaribe Slips to B

Bancaribe Slips to B

Corporate & Sovereign Strategy

Fitch has cut downgraded Banco del Caribe's (Bancaribe) long-term issuer default rating to B (negative) from B+ to reflect a fall in capitalization after strong growth in the last 18 months. "Profitability levels are undermined by fierce competition and a complex array of controls imposed by the government that limits the bank's ability to manage its business, a situation that affects the rest of the system as well," says Fitch. "Also, the ratings still incorporate its strong competitive positio

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