Fitch Ratings revised the outlook on the long-term foreign and local currency issuer default rating of Banco Fassil SA to negative from stable.
The rating agency cited the recent revision of Bolivia's long-term IDR outlook as the reason for the rating action on the bank.
Fitch highlighted that the government's macroeconomic and regulatory policies have a large impact on the bank's performance. The lender's participation itself in the country's financial system was also considered by Fitch in the decision.
Moreover, the rating agency affirmed Banco Fassil's long- and short-term foreign and local currency IDRs at B+ and B, respectively. The lender's viability rating was also affirmed at "b+".