...Sound Credit Profile: BBVA Banco Continental, S.A.'s (BC) Long-Term Foreign-Currency IDR remains one notch above Peru's sovereign rating due to its very strong credit profile. BC's VR reflects its robust franchise, solid asset quality and ample reserves, solid and consistent performance, diversified funding and adequate capital. BC's cautious approach to business and track record of adequate risk management underpin its credit metrics and provide stability amid a less benign operating environment projected for the Peruvian economy during 2016. Sound Asset Quality/Reserves: BC's moderate risk appetite, adequate credit policies and risk management tools contribute toward maintaining its asset quality as among the best in the region. BC's 90-day past-due loan (PDL) rate was below 2% at year-end 2015 (YE15) and covered by ample reserves (2.4x to PDL). These ratios could continue to deteriorate slightly given the less favorable operating environment, but Fitch Ratings expects them to remain...
