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Research Update: Banco Mercantil Santa Cruz 'B/B' Counterparty Ratings Affirmed, Outlook Stays Positive; Good Liquidity, Funding Cited
Standard & Poors
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
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BMSC continues to enjoy its leading market position in the Bolivian financial system while maintaining good liquidity and funding. We are affirming our ratings, including the 'B/B' counterparty credit ratings, on BMSC. The outlook remains positive. We expect BMSC to maintain its strong market position and benefit from the growing local economy. On May 5, 2011, Standard & Poor's Ratings Services affirmed its ratings, including the counterparty credit ratings, on Bolivia-based Banco Mercantil Santa Cruz S.A. (BMSC) at 'B/B'. The outlook remained positive. Our ratings on BMSC are constrained by the uncertainty intrinsic to Bolivia's financial system, the country's high sovereign risk, high competitive pressures from other large banks, and BMSC's weak capitalization. Nonetheless, the bank enjoys a strong market...
Companies mentioned in this report are: Banco Mercantil Santa Cruz S.A.
Banco Mercantil Santa Cruz S.A.