Fitch affirms Bibanco

Fitch Ratings said it affirmed Brazil-based Banco Industrial e Comercial SA's (Bibanco) BB+(bra) national long-term rating, F2(bra) national short-term rating and 5 support rating.

The outlook is stable.

The agency said the ratings reflect Bicbanco's successful strategic planning since 2002, when it was widely restructured and professionalized. Since then, the bank has improved its operational performance and risk controls. The ratings also denote expertise in its segment, prudent liquidity management and satisfactory asset quality.

However, they still reflect the policy to maintain high credit leverage and the fact that it is a niche bank, with characteristic concentrations and more susceptible to the highly volatile local environment, Moody's said.

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