Banco del Pais, SA Upgraded

Fitch Ratings upgraded the national scale ratings of Honduras’ Banco del Pais SA (Banpais), after it was bought by Bicapital Corp (BC), the ultimate parent of Guatemala’s Banco Industrial.

Banpais’ national scale long-term rating was upgraded to ‘A+(hnd)’ from ‘BBB-(hnd)’, while the national scale short-term rating was upgraded to ‘F1(hnd)’ from ‘F3(hnd)’.

The outlook is stable.

The upgrade reflects the potential support it will likely receive from newly formed parent Panama-based BC, which recently acquired an 89.75 pct stake in Banpais.

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