Fitch Ratings is one of the three nationally recognized statistical rating organizations designated by the U.S. Securities and Exchange Commission. In a recent report, Fitch Ratings has placed Banco Internacional de Costa Rica’s (BICSA) Issuer Default Rating (IDR) at ‘BB+’ and its Viability Rating (VR) at ‘bb’ following a peer review of Panama’s midsized banks.

Fitch also stated that BICSA’s Long-Term National Rate remains Negative.

Read the full Press Release here: Reuters

Banco Internacional de Costa Rica was founded in 1976 and is based in Panama City, the Republic of Panama and provides various banking services for personal and corporative customers in the Republic of Panama. It offers various deposit products, including checking accounts, money market accounts, and deposits/investments certificates, as well as debit cards.

Banco Internacional de Costa Rica also provides commercial credit products comprising lease financing, factoring, working capital financing, capital goods financing, revolving lines of credit/inventory financing, medium financing/capital equipment financing, and project financing services.

In addition, Banco Internacional de Costa Rica offers:

  • foreign trade products
  • such as payment orders
  • fund transfers
  • collections
  • documentary credit,
  • forex
  • banking guarantees
  • foreign trading financing services
  • bond issues and commercial papers
  • structured finance services
  • foreign trade financing
  • working capital financing
  • capital goods financing
  • Eximbank
  • discounting of drafts/bills of exchange
  • personal credit,
  • foreign trade products comprising letters of credit
  • collections
  • emission of banking guarantees.