Fitch cuts BAC International Bank

Fitch Ratings said it downgraded BAC International Bank, Inc.'s long-term issuer default rating to BB from BB+, long-term national scale rating to AA-(pan) from AA(pan) and removed the ratings from rating watch negative.

“These actions follow the spin-off completion of BIB's owner, BAC Holding International Corp. (BHI, formerly Leasing Bogota SA Panama) from Banco de Bogota SA (BB+/stable),” Fitch said in a press release.

The outlooks are stable.

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