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S&P affirms Banco Patagonia

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S&P affirms Banco Patagonia

S&P Global Ratings on July 7 affirmed 's local- andforeign-currency credit ratings at B-, with a stable outlook.

The bank's stand-alone credit profile is "b+."

The company's ratings reflect its adequate business and riskpositions, moderate capital and earnings, average funding and adequateliquidity, S&P said, adding that the lender has continued to follow itsgrowth strategy in Argentina while maintaining stable business and creditfundamentals.

However, Banco Patagonia's ratings are still constrained bythe sovereign ratings on Argentina, and the bank's stable outlook for the next12 to 18 months mirrors the outlook on the country.

S&P Global Ratingsand S&P Global Market Intelligence are owned by S&P Global Inc.