Bank Rating

The BICE was awarded the best long-term rating a bank may receive in the Argentine Republic: AAA (arg) with Stable Outlook.

Fitch Ratings

FIX SCR S.A. AGENTE DE CALIFICACIÓN DE RIESGO “an afíliate of Fitch Ratings” – Reg. CNV No.9, in a meeting held on 2 December 2016, decided to confirm the following ratings for Banco de Inversión y Comercio Exterior S.A (BICE):

  • Long-term Indebtedness: AAA(arg) with Stable Outlook.
  • Short-term Indebtedness: A1+(arg).

Class 1 Negotiable Instruments due 18 months after issuance, at a par value of up to $300 million, expandable to up to $1,000 million: AAA(arg), Stable Outlook.

Class 2 Negotiable Instruments due 36 months after issuance, at a par value of up to $300 million, expandable to up to $1,000 million: AAA(arg), Stable Outlook.

Likewise, the Rating Council decided to award the Banco de Inversión y Comercio Exterior S.A (BICE) with the following ratings:

Class 3 Negotiable Instruments due 18 months after issuance, at a par value of up to $200 million, expandable to up to $1,200 million: AAA(arg), Stable Outlook.

Class 4 Negotiable Instruments due 36 months after issuance, at a par value of up to $200 million, expandable to up to $1,200 million: AAA(arg), Stable Outlook.

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 credit, compared with other issuers or issuances of the country.

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 property characteristics and its strategic role as second floor public financial institution within the framework of a new governmental project. Its capital basis is also deemed wide, which will let it have, together with other funding sources, a strong growth in credits keeping an adequate capitalization.

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Bs. As., Argentina

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