We have concluded our stress test for BAC International Bank (BIB) to be rated above the sovereign, after the downgrade on Costa Rica, and assessed the bank's strategic direction for growth in Central America. We believe BIB will remain the largest financial institution in Central America, on a consolidated basis, while continuing its successful diversification strategy by geography and economic sector. We are affirming our 'BBB-' long-term and 'A-3' short-term issuer credit ratings on BIB and its core subsidiary Credomatic International Corp. (CIC) and removing them from CreditWatch with negative implications where we placed them on Feb. 25, 2016. The negative outlook reflects that on its parent, Banco de Bogota (BBB-/Negative/A-3), given the core status of both entities to the
