... unchanged, despite pressures from the lockdowns and debt moratoriums. Its stand-alone credit profile (SACP) remains '##-', above the rating on Bolivia (B+/Negative/B). However, the sovereign rating constrains that on the bank because we don't believe it could withstand a sovereign default scenario, given its large exposure to the country in the form of loans and investments. Solid funding and liquidity base. The bank will continue benefiting from its diversified funding sources, large liquidity position, and a contingent liquidity source due to the government-related funds the bank manages. Adequate business position and profitability. We expect the bank to maintain a good business position in the Bolivian financial system, along with a diversified revenue, which result in stable income generation. However, the potential for political influence from its shareholder, the government, acts as a drag on Banco Union's business position, in our...
