S&P cuts, withdraws Banco Popular ratings
Bnamericas Published: Monday, December 22, 2003
Standard & Poor's Ratings Service lowered the long-term counterparty local and foreign currency credit ratings of Dominican Republic bank Banco Popular Dominicano from B- to CCC following a similar rating action against the country, S&P said in a statement. The short-term ratings were confirmed at C and the bank's survival rating was cut from BB to B. S&P also said it would withdraw its ratings of Banco Popular at the bank's request. Popular is one of the largest banks in the Dominican Republic, where it is the leading institution in commercial banking.
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