S&P Upgrades Panama’s Banitsmo

S&P Upgrades Panama’s Banitsmo

Panama

Citing the implementation of underwriting policies, procedures and technology from parent company HSBC, S&P has raised its long-term counterparty credit rating on Panama’s Banistmo to BBB from BBB minus. The outlook was also revised to stable from positive. “The upgrade reflects the bank’s improved risk management and better financial flexibility, which we expect to continue strengthening its financial profile,” the agency says. The rating reflects the bank's strong market position in Central Am

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