Fitch Upgrades Honduras’ Banco del Pais on Takeover

Fitch has upgraded the local ratings of Banco del Pais in Honduras to A+ from BBB minus, following the acquisition by Guatemala’s Banco Industrial. “The upgrade in Banpais’ ratings reflects the potential support that it will likely receive, if it were required, from its newly formed parent,” the agency says. The BB ratings of Industrial remain unchanged, as the acquisition does not directly affect its financial condition.