Fitch Revises Republic Bank DR Outlook to Positive; Affirms F-C and L-C IDRs at 'B'.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Fitch has revised the Rating Outlook on Republic Bank DR's foreign currency and local currency Issuer Default ratings (IDRs) to Positive from Stable. Fitch also affirms both IDRs at 'B'. Fitch has also affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. Republic Bank (DR)'s other international and national ratings, as stated below. These actions follow Fitch's recently announced revision of the Dominican Republic's outlook to positive. The Outlook revision reflects the continued strength of the economic recovery and the expectation that the government will have more success in implementing its structural reform agenda now that it has a majority in Congress. Since the new Congress took office on Aug., 16, 2006, the Progressive Bloc The Progressive Bloc (Spanish: Bloque Progresista) is an electoral alliance in the Dominican Republic. The alliance is led by the Dominican Liberation Party and gained an absolute majority in the 16 May 2006 legislative election. coalition (led by the president's party, Partido de la Liberacion Dominicana) now has a majority in both houses of Congress, which should enhance govern ability during the second half of this administration. Republic Bank (DR)'s IDR IDR In currencies, this is the abbreviation for the Indonesian Rupiah. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ratings reflect, should it be required, the potential support the bank would receive from its parent, Republic Bank Limited (RB). The individual rating also reflects the constraints imposed by weak asset quality, accumulated losses and the volatility of the operating environment In computing, an operating environment is the environment in which users run programs, whether in a command line interface, such as in MS-DOS or the Unix shell, or in a graphical user interface, such as in the Macintosh operating system. . As of December 2005, Republic Bank (DR) ranked sixth out of 12 commercial banks, with a 3% market share by total assets. In September 2003, RB acquired 99.8% of the shares of Republic Bank (DR). RB is a leading bank in Trinidad & Tobago but also has operations in Guyana, Grenada, Barbados, St. Lucia, and the Cayman Islands Cayman Islands (kā`mən), British dependency (2005 est. pop. 44,300), 100 sq mi (259 sq km), comprising three islands in the West Indies. and offers banking services throughout the Caribbean. Fitch has also affirmed the following ratings: --Short-term foreign currency affirmed at 'B'; --Short-term local currency affirmed at 'B'; --Individual affirmed at 'E'; --Support affirmed at '4'; --Long Term National Rating affirmed at 'A+(dom)'; --Short Term National Rating affirmed at 'F1(dom)'. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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