The ratings on Guatemala-based bank BG&TC continue to reflect its strong business position, average funding, and adequate liquidity compared with its peers. Its risk-adjusted capital constrains the rating, which we view as moderate. We are affirming our 'BB' long-term and 'B' short-term issuer credit ratings on the bank. We expect the bank to maintain its strong business position and to diversify its loan portfolio during 2013. On March 14, 2013, Standard&Poor's Ratings Services affirmed its 'BB/B' issuer credit ratings on Banco G&T Continental S.A. (BG&TC). The stand-alone credit profile (SACP) remains at 'bb+'. The outlook is stable. The ratings reflect BG&TC's "strong" business position, our "moderate" capital and earnings assessment, "moderate" risk position, and "average" funding with "adequate"
