Banco Industrial's solid market position in Guatemala and its adequate funding and liquidity assessment, based on its fragmented deposit base, remain as the main rating strengths. We're affirming our long-term 'BB' and short-term 'B' ratings on the Guatemala-based universal bank. The negative outlook on Banco Industrial reflects that on Guatemala. If we downgrade the sovereign in the next 12 months, we could take the same action on the bank. On Jan. 30, 2017, S&P Global Ratings affirmed its 'BB/B' issuer credit ratings on Banco Industrial S.A. (BI). The stand-alone credit profile (SACP) remains 'bb+'. The outlook remains negative. The ratings on BI continue to reflect our view of its solid market position, mainly in the commercial segment as the largest
