The BICE was awarded the best long-term rating a bank may receive in the Argentine Republic: AAA (arg) with Stable Outlook.
FIX SCR S.A. AGENTE DE CALIFICACIÓN DE RIESGO “an affiliate of Fitch Ratings” – Reg. CNV N°9, in a meeting held on 18 March 2016 has decided to raise the long-term rating of Banco de Inversión y Comercio Exterior S.A. and to chane its Outlook from Negative to Stable, according to the following grounds:
AAA (arg) Category: National “AAA” is the maximum rating allocated by FIX in its national rating scale for the country. This rating is awarded to the best credt, compared with other issuers or issuances of the country. The signs “+” or “-” are added to a rating to give it more or less relative importance within the corresponding category and do not alter the definition of the Category they are added to.
A1 (arg) Category: indicates a sound and timely capacity of payment to comply with the financial commitments, compared with other issuers or issuances of the same country. When the characteristics of the issuance or of the issuer are especially sound, a “+” is added to the category. The ratings of Banco de Inversión y Comercio Exterior S.A. are grounded on its characteristics, its role as second floor public financial institution and its wide capital basis which lets it keep a funding structure with a low level of debt. Likewise, it considers the political risks the bank is exposed to as public institution.