trending Market Intelligence /marketintelligence/en/news-insights/trending/XWcxmJboJFkb9Z86Lu2WZw2 content esgSubNav
In This List

Fitch affirms Banesco USA's ratings, revises outlook to positive

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


Fitch affirms Banesco USA's ratings, revises outlook to positive

Fitch Ratings affirmed Banesco USA's BB- long-term issuer default rating, B short-term issuer default rating and "bb-" viability rating.

The bank's long-term and short-term deposit ratings were affirmed at BB and B, respectively. Banesco USA's support rating was affirmed at 5 and its support rating floor at NF.

The affirmation reflects the rating agency's view that the company continues to generate operating performance in line with its current rating while maintaining capital levels commensurate with its risk profile.

The rating outlook was revised to positive from stable. In revising the outlook, Fitch noted the positive steps taken by Banesco USA's management to become a South Florida community bank with a growing base of locally sourced deposits and loans, from being a bank largely focused on international customers.