September 19, 2022
Fitch Ratings said it has upgraded Argentine commercial bank and mortgage lender Banco Hipotecario by one notch to CCC- on lower debt and improved profitability.
"The upgrade reflects Hipotecario's improvements in the bank's asset quality, funding mix and profitability during the past six quarters and the lower refinancing risk given the significant reduction of its capital markets debt," Fitch said in a report on Thursday.
Nonetheless, Hipotecario's ratings are constrained by a "volatile operat
Ratings agency gives the Argentine lender a CCC- on lower debt and higher earnings