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| Brief Excerpt: | ...IDR Rating Driven by Parental Support: Scotiabank Uruguay S.A.'s Issuer Default Ratings (IDRs) reflect the expected institutional support Fitch Ratings believes the bank would receive from the parent, The Bank of Nova Scotia (BNS; AA¡/Stable). The bank's VR of `bb' continues to be driven by its credit metrics, reflecting a low-risk profile, improving profitability, comfortable liquidity, and conservative risk appetite. This is reflected by slower loan growth during the past two years. Scotiabank Uruguay is strategically important to BNS' objectives in Latin America. In addition, there is a reputational risk in case of a default given the shared brand name and operational integration. BNS has already shown that it has been willing and able to provide support in terms of funding and capital as was recently done to support the Discount Bank acquisition. Viability Rating Driven by Improved Metrics: The recent upgrade of Scotiabank Uruguay's VR by one notch reflects the bank's improved profitability... |
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| Report Type: | |
| Company(ies) | The Bank of Nova Scotia
, Scotiabank Peru S.A.A.
, Scotiabank Chile SA
, Banco Cuscatlan SV, S.A.
, Scotiabank Uruguay S.A.
, Scotiabank Inverlat, S.A., Institucion de Banca Multiple, Grupo Financiero Scotiabank Inverlat
, Scotiabank Capital Trust
, Scotiabank de Costa Rica
, Inversiones Financieras Scotiabank El Salvador SA
, Bank of Nova Scotia, The
, The Bank of Nova Scotia (Costa Rica) S.A.
, Scotia Inverlat Casa de Bolsa S.A. de C.V., Grupo Financiero Scotiabank Inverlat |
| Ticker(s) | BNS , BSC01 , SCOTIAC1 , SUD AMER-A |
| Issuer | The Bank of Nova Scotia (Costa Rica), S.A. |
| Format: | | PDF |  |
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