MEXICO CITY (Standard&Poor's) July 2, 2013--Standard&Poor's Ratings Services said today that its issuer credit ratings on Panama-based BAC International Bank Inc. (BIB; BBB-/Stable/A-3) and its "core" entity, Credomatic International Corp. (Credomatic; BBB-/Stable/A-3), are unaffected by BIB's June 26, 2013 announcement that it plans to acquire Guatemala-based Grupo Financiero Reformador (Reformador, not rated). Credomatic will carry out the acquisition for an estimated $411 million. The planned acquisition will carry an estimated $266 million in goodwill. In our view, we continue to consider BIB a "core" entity for its parent company, Colombia-based bank Banco de Bogota S.A. y Subsidiarias (Banco de Bogotá; BBB-/Stable/A-3), and the ratings on BIB are the same as those on its parent. BIB operates
