...Company Profile: Intercorp Financial Services, Inc. (IFS) is a non-operating Panamanian holding company, subsidiary of Intercorp Peru (Intercorp; rated `BBB¡`/Negative by Fitch Ratings), a Bahamas holding company. IFS subsidiaries include Banco Internacional del Per· S.A.A. (Interbank; rated `BBB'/Negative by Fitch), Peru's fourth-largest universal commercial bank; Interseguro Compa±ia de Seguros S.A. (Interseguro), one of Peru's largest insurers; and Inteligo Group Corp., a Panamanian offshore private bank catering to Peruvian clients. Interbank Ratings High Influence: The ratings assigned to IFS reflect the business and financial profiles of its main operating subsidiary, Interbank. IDRs are one notch below those of Interbank, reflecting IFS's separate jurisdiction (Panama), the lack of regulatory focus on IFS on a consolidated basis, and the potential for regulatory restriction of liquidity upstreaming to IFS in the event of solvency pressures at Interbank. The rating also considers...
