Our Banking Industry Risk Assessment (BICRA) on El Salvador remains at group '7'. We're maintaining our economic risk score at '8' and our industry risk score at '6'. However, we're revising the BICRA industry risk trend to negative from stable and the economic risk trend to stable from negative. In our view, competitive dynamics in the Salvadorian banking system could increase industry risk if banks' declining profitability prompts their risk appetite to become more aggressive or weaken the industry's stability. We're affirming our 'B+/B' ratings on the Salvadorian commercial bank, Banco Agricola. The outlook remains stable. On May 23, 2016, S&P Global Ratings affirmed its 'B+/B' issuer credit ratings on Banco Agricola. The outlook on the ratings remains stable. We're
