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Banco Continental S.A. Assigned 'BBB-/A-3' Rating; Outlook Stable Jul 07
Standard & Poors, July 2007
Abstract
BUENOS AIRES (Standard & Poor's) July 6, 2007--Standard & Poor's Ratings Services said today that it assigned its 'BBB-/A-3' counterparty credit rating to Banco Continental S.A. (Banco Continental), Peru. The outlook is stable. 'The rating on Banco Continental reflects the bank's strong competitive position within the Peruvian financial system, a sound management team, a committed group of shareholders, and the bank's solid financial profile,' said Standard & Poor's credit analyst Federico Rey-Marino. The bank's financial strength is evidenced by adequate capitalization, healthy asset quality indicators, good profitability and operating efficiencies, and ample liquidity (including a lack of significant debt maturities in the next few years). These strengths are counterbalanced by the bank's exposure to Peruvian country risks, and the challenge...
Companies mentioned in this report are: Banco Continental S.A.
Action: New Rating
Action: Outlook: Stable
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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