trending Market Intelligence /marketintelligence/en/news-insights/trending/ezz2kvga7yrsoxgwfp2wyg2 content esgSubNav
In This List

Fitch assigns ratings to Panama's MMG Bank


Banking Essentials Newsletter: 17th April Edition


Banking Essentials Newsletter: 7th February Edition

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Fitch assigns ratings to Panama's MMG Bank

Fitch Ratings on March 23 assigned BBB- long-term foreign currency issuer default ratings, with a stable outlook, to Panama-based MMG Bank Corp.

The rating agency also assigned the bank a viability rating of "bbb-" and short-term foreign currency issuer default ratings of F3.

In assigning the ratings, Fitch noted that the bank's issuer default ratings are based its intrinsic creditworthiness as reflected in its viability rating. The viability rating, in turn, reflects in part the company's moderate credit profile due to a relatively small size and concentrated niche. The bank's position within an increasingly competitive operating environment and its strong liquidity also factor in its viability rating.

Fitch also considered the bank's current favorable asset quality ratios, robust capitalization and superior profitability metrics compared to peers, as well as its adequate risk management.