...Outlook Negative: The revision of the Rating Outlook on Banco Internacional del Peru S.A.A. ¡ Interbank's (Interbank) Issuer Default Ratings (IDRs), to Negative from Stable, considers the increased downside risks from economic implications of the coronavirus pandemic, which has resulted in a downward adjustment for the company's operating environment. Operating Environment a High Influence Factor: The operating environment is a high influence factor for the bank's ratings. Fitch Ratings believes the weaker economic conditions reflected in the expected contraction of the economy, by at least 4% in 2020, will likely result in asset quality deterioration and weigh on profitability. The magnitude and depth of this impact are uncertain and will depend on the duration of the crisis. Company Profile: The ratings are highly influenced by the company's profile as the fourth- largest universal commercial bank in Peru with a market share by assets of 12.6% at YE19, and its leadership in retail banking...
