Mibanco Banco De La Microempresa's risk-adjusted capitalization is transitioning to adequate levels from strong, due to pressures on it internal capital generation capacity. We are revising our outlook to stable from positive and affirming our 'BBB/A-2' ratings on the bank. The stable outlook reflects our expectation that Mibanco will maintain its good market position within the Peruvian microfinance sector; the bank's future loan growth will be accompanied by adequate capitalization levels. On Aug. 15, 2013, Standard&Poor's Ratings Services revised its outlook on Mibanco Banco De La Microempresa S.A. (Mibanco) to stable from positive. At the same time, we affirmed our 'BBB' long-term and 'A-2' short-term issuer credit ratings on the bank. The outlook revision on Mibanco reflects the
