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S&P affirms Financiero de Desarrollo Territorial's ratings

Standard &Poor's Ratings Services said March 31 that it affirmed its BBB long- and A-2 short-termforeign and local currency issuer credit ratings on Financiera de Desarrollo Territorial SA.

The ratingsreflect its adequate business position as one of the largest development banks inColombia and strong capital and earnings based on S&P's projected risk-adjustedcapital ratio of 13% to 14% for the next 12 to 24 months due to its internal capitalgeneration. The ratings also incorporate the bank's adequate risk position withsound asset quality metrics that offset risk concentrations, below-average fundingand adequate liquidity, S&P said.

The bank's stand-alonecredit profile was lowered to "bb+" from "bbb-."

In addition,the ratings continue to reflect a very high likelihood of extraordinary governmentsupport, S&P noted.

S&P Ratings and Global Market Intelligenceare owned by McGraw Hill Financial Inc.