Fitch Affirms Banco Atlantida's IDRs at 'B+'; Outlook Revised to Negative; Invatlan Placed on RWN

• Fitch Ratings has affirmed Banco Atlantida, S.A.'s (Atlantida) Long-Term (LT) Issuer Default Ratings (IDRs) at 'B+', and revised the outlook from stable to negative.
• Fitch also placed both Inversiones Atlantida’s (Invatlan) LT and ST IDRs, each at 'B', and the US$150Mn senior secured notes 'B'/'RR4' on Rating Watch Negative (RWN).
• The negative outlook on Atlantida LT IDRs reflects the increased downside risks from the economic implications of the coronavirus pandemic. Fitch believes that although the ultimate impact of the weaker economic conditions is yet unclear; this could materially affect the banks' financial performance.
• Invatlan's RWN reflects the delay in the delivery of the audited 2019 financial information due to operational issues with the external auditor derived from the pandemic, according to management.

(Source: Fitch Ratings)