Fitch Affirms Ratings on Largest Salvadoran Banks Following Peer Review

SAN SALVADOR, El Salvador--()--Following its peer review of the largest Salvadoran's banks, Fitch Ratings has affirmed the ratings for the following financial issuers:

--Banco Agricola, S.A.;

--Banco Davivienda Salvadoreno, S.A.;

--Scotiabank El Salvador, S.A.;

--Banco de America Central, S.A.;

--Banco Citibank de El Salvador, S.A.

Fitch also reviewed the bank holding companies of some of these banks and affirmed the ratings of:

--Inversiones Financieras Banco Agricola, S.A.;

--Inversiones Financiera Davivienda, S.A.;

--Inversiones Financieras Scotiabank El Salvador, S.A.;

--Inversiones Financieras Banco de America Central, S.A.

Fitch has published Rating Action Commentaries (RACs) for each of these banks, which are available on www.fitchratings.com and www.fitchcentroamerica.com. These RACs include each issuer's Key Rating Drivers and Sensitivities, as well as a list of all rating actions taken. Fitch expects external support for all of the entities under review, if required.

Additional information is available on www.fitchratings.com

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. 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.

Contacts

Fitch Ratings
Diego Alcazar (Primary Analyst, Banco Agricola and Banco Davivienda Salvadoreno; Secondary Analyst, Inversiones Financieras Banco Agricola and Inversiones Financieras Davivienda)
Director
+1-212-908-0396
Fitch Ratings, Inc.
33 Whitehall St.
New York, NY 10004
or
Dario Sanchez (Secondary Analyst, Banco Agricola, Primary Analyst, Inversiones Financieras Banco Agricola; Secondary Analyst, Banco de America Central, Inversiones Financieras BAC)
Director
+503 2516 6608
Edificio Plaza Cristal, Tercer Nivel
79 Ave. Sur y Calle Cuscatlan
Col. Escalon San Salvador, El Salvador
or
Marcela Galicia (Primary Analyst; Banco Citibank de El Salvador; Seconday Analyst, Scotiabank El Salvador and Inversiones Financieras Scotiabank El Salvador)
Director
+503 2516 6616
or
Francesca Cedrola (Primary Analyst; Banco de America Central, Inversiones Financieras BAC)
Associate Director.
+503 2516 6611
or
Alvaro Castro (Primary Analyst, Scotiabank El Salvador and Inversiones Financieras Scotiabank El Salvador)
Associate Director
+503 2516 6615
or
Rene Medrano (Secondary Analyst, Banco Citibank de El Salvador)
Senior Director
+503 2516 6610
or
Rolando Martinez (Secondary Analyst, Banco Davivienda Salvadoreno; Primary Analyst, Inversiones Financieras Davivienda)
+503 2516 6619
or
Committee Chairperson
Theresa Paiz Fredel
Senior Director
+1-212-908-0534
or
Fitch Ratings, Inc.
33 Whitehall St.
New York, NY 10004
or
Media Relations:
Elizabeth Fogerty, New York, +1 212-908-0526
Email: elizabeth.fogerty@fitchratings.com

Contacts

Fitch Ratings
Diego Alcazar (Primary Analyst, Banco Agricola and Banco Davivienda Salvadoreno; Secondary Analyst, Inversiones Financieras Banco Agricola and Inversiones Financieras Davivienda)
Director
+1-212-908-0396
Fitch Ratings, Inc.
33 Whitehall St.
New York, NY 10004
or
Dario Sanchez (Secondary Analyst, Banco Agricola, Primary Analyst, Inversiones Financieras Banco Agricola; Secondary Analyst, Banco de America Central, Inversiones Financieras BAC)
Director
+503 2516 6608
Edificio Plaza Cristal, Tercer Nivel
79 Ave. Sur y Calle Cuscatlan
Col. Escalon San Salvador, El Salvador
or
Marcela Galicia (Primary Analyst; Banco Citibank de El Salvador; Seconday Analyst, Scotiabank El Salvador and Inversiones Financieras Scotiabank El Salvador)
Director
+503 2516 6616
or
Francesca Cedrola (Primary Analyst; Banco de America Central, Inversiones Financieras BAC)
Associate Director.
+503 2516 6611
or
Alvaro Castro (Primary Analyst, Scotiabank El Salvador and Inversiones Financieras Scotiabank El Salvador)
Associate Director
+503 2516 6615
or
Rene Medrano (Secondary Analyst, Banco Citibank de El Salvador)
Senior Director
+503 2516 6610
or
Rolando Martinez (Secondary Analyst, Banco Davivienda Salvadoreno; Primary Analyst, Inversiones Financieras Davivienda)
+503 2516 6619
or
Committee Chairperson
Theresa Paiz Fredel
Senior Director
+1-212-908-0534
or
Fitch Ratings, Inc.
33 Whitehall St.
New York, NY 10004
or
Media Relations:
Elizabeth Fogerty, New York, +1 212-908-0526
Email: elizabeth.fogerty@fitchratings.com