BAC International Bank Inc.'s (BIB) main strengths stem from its funding structure that leans on a stable and pulverized deposit base with manageable short-term financial obligations. Lead player in consumer lending and the largest financial conglomerate in Central America; and Highly diversified by geography, economic sector, and client, allowing us to rate the bank above the sovereign rating on Costa Rica (B+/Negative/B), to which it is highly exposed. Recent economic struggles related to the COVID-19 pandemic, coupled with the historical political vulnerability within the region could represent a challenge for the bank's profitability and asset quality metrics. Large exposure to consumer segment could represent additional pressures on asset quality metrics during the pandemic. Our current moderate capital and earnings assessment
