Fitch rates Banco Master B

Fitch Ratings said it assigned Banco Master SA long- and short-term foreign and local currency issuer default ratings of B and a viability rating of b.

The outlook is stable.

“Master's ratings reflect its growing, but still evolving franchise and business model,” the agency said in a news release.

“Although no longer dependent on the sale of assets, the bank continues to face the challenge of reducing the volatility of its results, mainly derived from its high level of recent investments as well as the risks associated with its assets that carry credit risk.”

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