We revised our Banking Industry Country Risk Assessment (BICRA) on El Salvador to group '10' from '9' after revising our industry risk score to '8' from '7' to reflect delays in improvements in the country's regulatory framework. As a result, we revised downward the anchor for domestic banking system to 'b' from 'b+'. Therefore, we revised the stand-alone credit profile (SACP) on Salvadorian universal bank, Banco Agricola, to 'b+' from 'bb-'. However, we affirmed our 'B-' long- and 'B' short-term issuer credit ratings (ICR) on the bank because we don't believe it's currently vulnerable to, or dependent on, favorable business, financial, and economic conditions to meet its financial commitments during the next 12 months. We revised the outlook on Banco
