Business Services Industry
DOMINICAN REPUBLIC: BPD RATINGS DOWNGRADED.(Banco Popular Dominicano)
IPR Strategic Business Information Database, October, 2003
Moody's Investors Service has downgraded Banco Popular Dominicano's (BPD) key ratings as a direct result of Moody's downgrade of the Dominican Republic's foreign currency ceilings. The rating changes include: the foreign currency deposit rating to B2 from Ba3, the bank financial strength rating (BFSR) to D, with a negative outlook, from D , with a stable outlook, and the local currency deposit rating to Baa2 from Baa1.
The outlook on all the ratings, other than financial strength, remain at stable. Moody's says that the downgrades of the sovereign and BPD u the only bank rated by Moody's in the Dominican Republic u reflect a deterioration in the country's general economic conditions and that have had an adverse impact on the Dominican Republic's medium-term...
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