NEW YORK (Standard & Poor's CreditWire) Dec. 21, 2000-- Standard & Poor's today revised its outlook on FirstBank Puerto Rico to stable from negative. All ratings on the bank are affirmed (see list). The outlook revision on FirstBank Puerto Rico, the third-largest commercial bank headquartered in Puerto Rico and the primary operating subsidiary of First BanCorp., is based on a reduced credit risk profile in the loan portfolio and a stabilized level of net loan charge-offs. FirstBank Puerto Rico has greatly reduced its exposures to higher credit risk consumer loans and increased its level of diversification in the loan portfolio, with new business lines focused on residential mortgages and commercial lending. Consumer loans now represent 33% of the loan portfolio
