Research Update: Banco Agricola Outlook Revised To Negative; BICRA's Economic And Industry Risk Trends Revised To Negative - S&P Global Ratings’ Credit Research

Research Update: Banco Agricola Outlook Revised To Negative; BICRA's Economic And Industry Risk Trends Revised To Negative

Research Update: Banco Agricola Outlook Revised To Negative; BICRA's Economic And Industry Risk Trends Revised To Negative - S&P Global Ratings’ Credit Research
Research Update: Banco Agricola Outlook Revised To Negative; BICRA's Economic And Industry Risk Trends Revised To Negative
Published Oct 25, 2021
5 pages (2536 words) — Published Oct 25, 2021
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

On Oct. 21, 2021, we revised the outlook on El Salvador to negative from stable due to its increasing financing needs for the next 6-18 months. We also affirmed our 'B-/B' sovereign credit ratings, and the transfer and convertibility (T&C) assessment remained at 'AAA'. As a result, our Banking Industry Country Risk Assessment (BICRA) on El Salvador remained at group '8', along with the economic and industry risk scores of '9' and '7', respectively. Therefore, the anchor for banks operating in El Salvador remained unchanged at 'b+'. Nevertheless, we revised our trend on the economic risk in BICRA to negative from stable, based on concerns over the sovereign's access to liquidity, limited financial flexibility regarding its debt management, and the

  
Brief Excerpt:

...- On Oct. 21, 2021, we revised the outlook on El Salvador to negative from stable due to its increasing financing needs for the next 6-18 months. We also affirmed our 'B-/B' sovereign credit ratings, and the transfer and convertibility (T&C) assessment remained at '###'. - As a result, our Banking Industry Country Risk Assessment (BICRA) on El Salvador remained at group '8', along with the economic and industry risk scores of '9' and '7', respectively. Therefore, the anchor for banks operating in El Salvador remained unchanged at 'b+'. - Nevertheless, we revised our trend on the economic risk in BICRA to negative from stable, based on concerns over the sovereign's access to liquidity, limited financial flexibility regarding its debt management, and the challenging operating conditions for the banking industry. - Additionally, we revised our trend on the industry risk in BICRA to negative from stable. The latter reflects a potential downward revision of the institutional framework and industry...

  
Report Type:

Research Update

Ticker
63132Z
Issuer
Banco Agricola S.A
GICS
Regional Banks (40101015)
Sector
Global Issuers, Structured Finance
Country
El Salvador
Region
Latin America
Format:
PDF Adobe Acrobat
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Banco Agricola Outlook Revised To Negative; BICRA's Economic And Industry Risk Trends Revised To Negative" Oct 25, 2021. Alacra Store. May 20, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Banco-Agricola-Outlook-Revised-To-Negative-BICRA-s-Economic-And-Industry-Risk-Trends-Revised-To-Negative-2744286>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Banco Agricola Outlook Revised To Negative; BICRA's Economic And Industry Risk Trends Revised To Negative Oct 25, 2021. New York, NY: Alacra Store. Retrieved May 20, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Banco-Agricola-Outlook-Revised-To-Negative-BICRA-s-Economic-And-Industry-Risk-Trends-Revised-To-Negative-2744286>
  
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