Moody’s ups Bisa Leasing, BNB Leasing outlook

Moody's Latin America said it changed the outlook on certain ratings of Bolivian leasing companies Bisa Leasing SA and BNB Leasing SA to stable from negative and affirmed all the issuers' ratings and assessments.

According to Moody’s, these actions follow the change in outlook on both leasing companies' affiliated banks (Banco Bisa SA and Banco Nacional de Bolivia SA, respectively), to stable from negative on Aug. 2.

Moody’s said the outlook change on the banks was in turn derived from the recent change in outlook on Bolivia's sovereign bond rating to stable from negative, owing to stabilizing fiscal and current account deficits which suggest that the impact of lower hydrocarbon prices on the sovereign's credit profile has been contained; and Moody's expectation that Bolivia's growth, fiscal and external metrics, although weakened, are likely to remain consistent with its Ba3 rating.

The agency said the Bisa Leasing and BNB Leasing’s ratings reflect the companies' stand-alone credit profiles of b1 and incorporates Moody's assessment of a high likelihood of support deriving from its affiliated banks, Banco Bisa and Banco Nacional de Bolivia, resulting in a one-notch uplift from the unsupported stand-alone credit profiles.

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