Standard&Poor's Ratings Services' ratings are based on BAC International Bank Inc.'s (BIB) core status to Banco de Bogotá and our belief that Banco de Bogotá will support BIB unconditionally. The ratings also reflect BIB's "adequate" market and business position across the Central American banking system, its "adequate" capital and earnings capacity, its risk position, which has average credit expansion and complexity compared with other banks, and its low losses-to-loans ratio. Even though the bank relies on a stable and growing customer deposit base, its funding sources are similar to the rest of the industry, resulting in "average" funding and "adequate" liquidity. The stable outlook reflects our expectation that the bank will maintain its core status to Banco de
