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S&P lowers Banco Internacional de Costa Rica's long-term rating

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S&P lowers Banco Internacional de Costa Rica's long-term rating

S&P Global Ratings on May 5 lowered its long-term globalscale issuer credit rating on BancoInternacional de Costa Rica SA to BB- from BB while affirming the bank'sshort-term issuer credit rating at B.

The outlook on the long-term rating is negative and the bank'sstand-alone credit profile remains at "bb."

S&P also removed the ratings from CreditWatch with negativeimplications, where they were placedin February.

After applying stress test assumptions to measure Banco Internacional'sresilience to a hypothetical scenario in which Costa Rica defaults, the rating agencyconcluded that the bank would not meet the minimum regulatory capital requirementsto pass the test.

The negative outlook on the company reflects that on Costa Rica,S&P said, adding that the country's sovereign rating will continue to constrainthe ratings on the bank.

S&P Global Ratingsand Global Market Intelligence are owned by S&P Global Inc.