Standard&Poor's Ratings Services' ratings on BAC International Bank Inc. (BIB) are based on those on Credomatic International Corp. (CIC; BBB/Stable/A-2), which is BIB's main subsidiary and represents most of its assets, loan portfolio, and profits. BIB is incorporated in Panama, with two main wholly owned subsidiaries, BAC International Bank Inc. (Grand Cayman) and CIC. GECC owns a 49.99% stake in BIB, and the ratings consider a limited degree of financial support from GECC, as well as our assessment of BIB's strategic importance to GECC. GECC's footprint is evident with a new credit process, risk management practices, and sharp organic and inorganic growth. On a consolidated basis, BIB is the fourth-largest financial group in Central America, with $5.9 billion
