On Sept. 11, 2020, S&P Global Ratings revised downward its industry risk evaluation in its Banking Industry Country Risk Assessment (BICRA) on Bolivia because liquidity risks in the banking system have increased due to recent government responses in the face of lockdowns, and because of the political turmoil in the lead?up to the upcoming presidential elections. As result, we have revised the BICRA group score on Bolivia to '9' from '8'. However the anchor, which is the starting point in assigning a rating on a Bolivia-based bank, remained unchanged at 'b+'. Therefore, we're keeping the stand-alone credit profiles (SACPs) on domestic lenders, BMSC and Banco Union, at 'bb-'. In addition, we're affirming the ratings on the banks, which are limited
