Business Services Industry
BPD RATINGS DOWNGRADED
Info-Prod Research (Middle East), October, 2003
Moody's Investors Service has downgradedBanco Popular Dominicano's (BPD) key ratings as a direct result ofMoody's downgrade of the Dominican Republic's foreign currency ceilings. The rating changes include: the foreign currency deposit rating to B2from Ba3, the bank financial strength rating (BFSR) to D, with a negativeoutlook, from D , with a stable outlook, and the local currency depositrating to Baa2 from Baa1.
The outlook on all the ratings, other thanfinancial strength, remain at stable. Moody's says that the downgrades of the sovereign and BPD - the only bank rated by Moody's in the Dominican Republic - reflect a deterioration inthe country's general economic conditions and that have had an adverseimpact on the Dominican Republic's medium-term credit outlook. The...
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