Despite good overall performance, G&T Continental has weak capitalization and double leverage, a dollarized balance sheet, and a still-limited NPA coverage. We are affirming our ratings on G&T Continental, including the 'BB-/B' foreign currency counterparty credit ratings and 'BBB-' local currency survivability assessment. The stable outlook reflects our expectation that the bank will maintain its financial profile in 2011, supported by additional capital. On March 23, 2011, Standard&Poor's Ratings Services affirmed its ratings, including the 'BB-/B' foreign currency counterparty credit ratings, on Guatemala-based Banco G&T Continental S.A. We also affirmed our 'BBB-' survivability assessment on the bank. At the same time, we assigned global-scale local currency ratings of 'BB-/B'. The outlook is stable. The ratings on G&T Continental
