MEXICO CITY (Standard&Poor's) Dec. 14, 2007—Standard&Poor's Ratings Services said today that it affirmed its 'BBB/A-2' counterparty credit rating on BAC International Bank Inc. (BIB). The outlook is stable. The ratings on BIB are based on those on Credomatic International Corp. (CIC; BBB/Stable/A-2), which is its main subsidiary and represents most of its assets, loan portfolio, and profits. BIB is incorporated in Panama, with two main wholly owned subsidiaries, BAC International Bank Inc. (Grand Cayman) and CIC. General Electric Capital Corp. (GECC; AAA/Stable/A-1+) owns a 49.99% stake in BIB, and the ratings consider a limited degree of financial support from GECC, as well as our assessment of BIB's strategic importance to GECC. GECC's footprint is evident with
