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Fitch affirms Banco Agrícola

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Fitch affirms Banco Agrícola

Following a peer review of El Salvador's largest banks,Fitch Ratings on April 8 affirmed Banco Agrícola SA's long- and short-term issuer defaultratings at BB and B, respectively, with a stable outlook on the long-termrating.

The bank's support rating was affirmed at 3 and itsviability rating at "bb-."

Additionally, Fitch affirmed its long- and short-termnational ratings at AAA(slv) and F1+(slv), respectively, on both Banco Agrícolaand Inversiones Financieras BancoAgrícola SA.

Banco Agrícola's ratings reflect the high probability ofsupport from shareholder Bancolombia SA. In Fitch's opinion, the lender is an importantunit for Bancolombia due to the meaningful and recurring share of revenues itgenerates and its key role in the parent's regional expansion.

The stable outlook reflects the rating agency's expectationthere will not be any substantial changes in the bank's risk profile in theforeseeable future.