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FITCH: Banesco USA’s Outlook Remains Stable

MIAMI – May 14, 2018 – Fitch Ratings has affirmed Banesco USA’s long-term rating with Stable Outlook despite Venezuelan government’s 90-day intervention to Banesco Banco Universal.

“Fitch views Banesco USA structure as an independent entity with no direct linkage to the Venezuelan bank as a rating positive and that more tangible risks to the bank’s capital and equity are mitigated by ring fencing by banking regulators in the U.S”.

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