Fitch confirms F-2(dom) rating on Leasing Popular

Fitch Ratings has confirmed its F-2(dom) short-term rating on Dominican leasing company Leasing Popular, while its long-term rating stands at A-(dom), the agency said in a report. Leasing Popular's rating is based on its good profitability, controlled levels of past-due loans, adequate liquidity levels and the financial and operating support provided by Grupo Popular. The company's rating is limited by variability in its capitalization levels and a deterioration in the operating environment in the Dominican Republic, Fitch said. The rating signifies the company's capacity to fulfill its obligations and shows a low level of credit risk. Leasing Popular not only dealt with a deteriorated operating environment in the Dominican Republic during 2003, but also restructured its operations to improve its financial profile to provide leasing solutions on a national level, the report added. To read Fitch's full report on Leasing Popular, in Spanish, paste the following link into your browser: http://www.bnamericas.com/rc_search_detail.xsql?id_documento=53022&Tx_idioma=E