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Financial News

Nov 2014 Financial News

FCB is ‘stable’ Standard & Poor’s:

Nov 13, 2014

International ratings agency Standard & Poor’s has re-affirmed State bank’s First Citizens’ BBB+ long-term foreign currency credit rating, reiterating that the credit rating outlook remains stable.

In a statement yesterday Moody’s Investor Services also rated First Citizens Bank Ltd as stable, with a Baa1 rating outlook — the equivalent to the S&P rating of BBB+.

“The agency’s “stable” rating reflects the expectation that the bank will maintain very strong capitalisation levels as a result of First Citizens’ internal capital generation and improvements in its asset quality. First Citizens’ market share, with respect to loans, is expected to be maintained, and the bank’s sector distribution will also remain consistent,” the statement added.

First Citizens is also expected to maintain its consistent performance over the next 12-18 months, and according to Standard & Poor’s, “remains one of the top banks in Trinidad and Tobago, partly thanks to its diversified products”.

 

Source:
Trinidad Express
Thursday November 13, 2014

http://www.trinidadexpress.com/business/FCB-is-stable-282503121.html