MEXICO CITY (Standard & Poor's) Jan. 19, 2007-Standard & Poor's Ratings Services said today that the acquisition of Banco Mercantil de Honduras (BAMER) by BAC International Bank Inc. (BIB; BBB/Stable/A-2) will not affect the ratings of BIB or Credomatic International Corp. (CIC; BBB/Stable/A-2). In our opinion, BAMER's operations can be absorbed without affecting the financial profiles of BIB and CIC, given their good profitability and asset quality. Profitability is expected to remain strong and above that of other financial institutions with similar ratings. Asset quality is expected to be similar to historical figures due to adequate underwriting policies, and control and client diversification. We think that BIB management is capable of managing the acquisition, given its ample experience operating in
