Argentina-Based Banco Galicia And Banco Patagonia 'CCC+' Ratings Affirmed On Revised Criteria, Outlooks Still Stable

On Dec. 9, 2021, S&P Global Ratings published its revised criteria for financial institutions. The Argentine banking regulator recently approved the use of our revised criteria. We have reviewed our global scale ratings on two rated Argentine banks under our revised criteria. We have affirmed the ratings on these banks, and the outlooks are unchanged. BUENOS AIRES (S&P Global Ratings) July 22, 2022--S&P Global Ratings affirmed its global scale ratings on two Argentine financial institutions. The affirmations follow a revision to our criteria for rating banks and nonbank financial institutions and for determining a Banking Industry Country Risk Assessment (BICRA; see "Financial Institutions Ratings Methodology," and "Banking Industry Country Risk Assessment Methodology And Assumptions," both published Dec. 9, 2021). The

...July 22, 2022 - On Dec. 9, 2021, S&P Global Ratings published its revised criteria for financial institutions. The Argentine banking regulator recently approved the use of our revised criteria. - We have reviewed our global scale ratings on two rated Argentine banks under our revised criteria. - We have affirmed the ratings on these banks, and the outlooks are unchanged. BUENOS AIRES (S&P Global Ratings) July 22, 2022--S&P Global Ratings affirmed its global scale ratings on two Argentine financial institutions. The affirmations follow a revision to our criteria for rating banks and nonbank financial institutions and for determining a Banking Industry Country Risk Assessment (BICRA; see "Financial Institutions Ratings Methodology," and "Banking Industry Country Risk Assessment Methodology And Assumptions," both published Dec. 9, 2021). The rating affirmations occurred on the following entities: - Banco De Galicia Y Buenos Aires S.A.U. (Banco Galicia; ###+/Stable/--); and - Banco Patagonia...

Ratings Action