trending Market Intelligence /marketintelligence/en/news-insights/trending/EkNWfbT7mxinx5-q4G3GPA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Fitch lowers outlook on Ecuador's Banco Pichincha, Banco de la Producción

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity


Fitch lowers outlook on Ecuador's Banco Pichincha, Banco de la Producción

Fitch Ratings on Jan. 15 revised its outlook on Banco de la Producción SA and Banco Pichincha C.A.'s ratings to negative from stable, following a similar outlook revision on Ecuador this month.

The rating agency said that the environment in which both banks are operating hampers their growth potential, profitability and internal capital-generation capacity. Fitch adds that "direct exposure to Ecuador through investment portfolios, constrain the banks' ratings to the sovereign's creditworthiness."

Fitch lowered its outlook on Ecuador to negative from stable as it warned against the country's relatively large financing needs and uncertain access to funding sources.

Meanwhile, the rating agency also affirmed the long- and short-term foreign currency issuer default ratings of both of the banks at B- and B, respectively. Their viability ratings were both affirmed at "b-" while their support ratings were affirmed at 5.