...Operating Environment with Moderate Influence: Panama's operating environment (OE) score remains capped by the sovereign rating at 'bb+', despite fundamentals consistent with a 'bbb' category. The banking system benefits from adequate credit growth, sound asset quality and resilient profitability. Stable GDP per capita and Operational Risk Index (ORI) metrics are expected to support operating conditions. Consistent Business Profile with High Capitalization: Credicorp Bank, S.A.'s (Credicorp) ratings are driven by its 'bb+' Viability Rating (VR), supported by a strong business profile, conservative risk management, sound asset quality and resilient profitability. High capitalization is a key rating strength. It supports Fitch Ratings' decision to rate the bank at the same level as the Panamanian sovereign and mitigating business model risks. Consolidated Business Model: Credicorp's 'bb-' business profile score exceeds the implied level of 'b', It reflects a consistent, low-risk and atomized...
