El Salvador-based universal bank Banco Agricola is the largest commercial bank in the country, while maintaining good asset quality metrics and adequate risk-adjusted capitalization and profitability. Banco Agricola remains a "highly strategic" subsidiary of its ultimate parent, Bancolombia S.A. y Companias Subordinadas. We are affirming our 'BB-/B' issuer credit ratings on Banco Agricola. The negative outlook on the bank reflects the outlook on El Salvador and the possibility of the bank's downgrade if we lower the rating on the sovereign. MEXICO CITY (Standard&Poor's) July 29, 2014--Standard&Poor's Ratings Services affirmed its 'BB-' long-term and 'B' short-term issuer credit ratings (ICR) on Banco Agricola S.A. The outlook remains negative. The ratings on Banco Agricola reflect our view of
