US EditionLow Fitch Rating to Intercam, Cibank and Vector
14 Articles
14 Articles
After the U.S. Treasury Department told Vector Casa de Bolsa, Intercam and CIBanco to facilitate the money laundering of drug cartels, Fitch Ratings lowered the credit ratings of the three institutions, while Standard & Poor’s (S&P) lowered the credit ratings of CIBanco.
Fitch Ratings degrades credit ratings from Exchange Bank, CIBank and Vector Stock Exchange after statements from the US government.
The allegations of alleged money laundering made by the U.S. Treasury Department against Intercam Banco, CIBanco and Vector Casa de Bolsa caused a downward adjustment in their respective ratings by Fitch Ratings. The U.S. agency cut the note from these three institutions as follows:The CIBanco note (also degraded by Standard & Poor’s) went from ‘A’ to ‘B’.The Exchange rating dropped from ‘AA-’ to ‘B’.Vector Casa de Bolsa’s credit note fell from …
Fitch Ratings lowered the credit ratings of Intercam Banco, Intercam Financial Group, CIBanko and Vector Casa de Bolsa and placed them in negative observation, reflecting the impending negative impact on the business and financial profiles of the entities before the U.S. Treasury Department's indication of potential weaknesses in the prevention of money laundering in relation to the illicit trafficking of opioids. The agency indicated that the n…
Following allegations of money laundering by the U.S. Treasury Department, Fitch lowered the national long- and short-term counterpart risk ratings of Intercam, CIBanco and Vector and put them on negative observation. "The drop in ratings reflects the impending negative impact on entities' business and financial profiles in the face of the U.S. Treasury Department's pointing out potential weaknesses in the prevention of money laundering in relat…
The agency degraded their credit ratings and placed them under Negative Observation
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