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Fitch Takes Rating Actions on the Largest Guatemalan Banks Following Peer Review
May 15, 2015 / 9:23 PM / 3 years ago

Fitch Takes Rating Actions on the Largest Guatemalan Banks Following Peer Review

(The following statement was released by the rating agency) NEW YORK/SAN SALVADOR, May 15 (Fitch) Following its peer review of the largest Guatemalan banks, Fitch Ratings took rating actions on the following entities: --Banco Industrial, S.A.; --Banco G&T Continental, S.A.; --Banco de Desarrollo Rural, S.A.; --Banco Agromercantil de Guatemala, S.A.; --Banco de los Trabajadores; --Mercom Bank Limited; --Financiera Rural, S.A.; --G&T Conticredit, S.A.; --Financiera G&T Continental, S.A.; --GTC Bank, Inc.; --Financiera G&T Continental Costa Rica, S.A. --Contecnica, S.A.; --Financiera Industrial, S.A.; --Westrust Bank (International) Limited; --Financiera de los Trabajadores, S.A. Fitch has published Rating Action Commentaries (RACs) for each of these banks, which are available on and These RACs include each issuer's key rating drivers and sensitivities, as well as the list of all rating actions taken. Contacts: Mark Narron (Primary Analyst, Banco de Desarrollo Rural, Banco G&T Continental, Banco Industrial and Banco de los Trabajadores) Director +1-212-612-7898 Fitch Ratings, Inc. 33 Whitehall St. New York, NY 10004 Diego Alcazar (Primary Analyst, Banco Agromercantil) Director +1-212-908-0396 Edgar Cartagena (Primary Analyst, Financiera Rural, Secondary Analyst, Banco Industrial, Contecnica, Financiera Industrial and Westrust Bank) Director +503 2516 6613 Edificio Plaza Cristal, Tercer Nivel 79 Ave. Sur y Calle Cuscatlan Col. Escalon San Salvador, El Salvador Rolando Martinez (Primary Analyst, Mercom Bank, Secondary Analyst, Banco G&T Continental, Financiera G&T Continental, GTC Bank, Conticredit and Financiera G&T Continental Costa Rica.) Director +503 2516 6619 Dario Sanchez (Primary Analyst, Financiera de los Trabajadores, Secondary Analyst, Banco de los Trabajadores) Associate Director +503 2516 6608 Francesca Cedrola (Primary Analyst, Contecnica, Financiera Industrial and Westrust Bank.) Analyst +503 2516 6611 Alvaro Castro (Primary Analyst, Financiera G&T Continental, GTC Bank, Conticredit and Financiera G&T Continental Costa Rica.) Associate Director +503 2516 6615 Luis Mauricio Ayala (Secondary Analyst, Banco Agromercantil and Mercom Bank) Associate Director +503 2516 6622 Marcela Galicia (Secondary Analyst, Banco de Desarrollo Rural and Financiera Rural) Director +503 2516 6616 Committee Chairperson Theresa Paiz Fredel Senior Director +1-212-908-0534 Media Relations: Elizabeth Fogerty, New York, Tel: +1 (212) 908 0526, Email: Additional information is available at '' and ''. Applicable Criteria and Related Research: --'Global Bank Rating Criteria' (March 2015). ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: here. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

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