The ratings assigned to BAC International Bank Inc. (BIB) are based on those on Credomatic International Corp. (CIC), which is its main subsidiary, representing most of its assets, loan portfolio, and profits. BIB is a bank incorporated in Panama with two principal wholly owned subsidiaries, BAC International Bank (Grand Cayman) and CIC (BBB-/stable /A-3). BIB is wholly owned by a holding company (BAC International Corp.), which itself is ultimately owned by BAC-Com Holding Co. Ltd., which owns 50.01%, and General Electric Capital Corp. (AAA/Stable/A-1+), which has a 49.99% stake in the bank. Through its subsidiaries, BIB maintains bank and other financial services subsidiaries in six Central American countries, of which the most important operations are in Costa Rica, El Salvador,
