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Bulletin: Banco Mercantil Santa Cruz S.A. Ratings Unaffected By Plurinational State Of Bolivia Upgrade May 11
Standard & Poors, May 2011
Abstract
BUENOS AIRES (Standard & Poor's) May 20, 2011----Standard & Poor's Ratings Services said today that the upgrade on the long-term ratings on the Plurinational State of Bolivia (B+/Stable/B) to 'B+' from 'B' would not affect its ratings on Banco Mercantil Santa Cruz S.A. (BMSC, B/Positive/B). We believe that the improvement in Bolivia's debt burden, rising international reserves, and prudent macroeconomic policies may enhance the financial institutions operating in the country. Nevertheless, the banking industry environment remains complex. The uncertainty intrinsic to Bolivia's financial system, high competitive pressures from other banks, and weak capitalization constrain our ratings on BMSC. Nonetheless, the bank enjoys a strong market position as the largest financial institution in the country, with good liquidity and adequate profitability....
Companies mentioned in this report are: Banco Mercantil Santa Cruz S.A.,Bolivia (Plurinational State of)
Action: Bulletin
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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