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Suspended Panama bank rated as 'stable'

Tuesday, June 9, 2015

A week before Panama’s suspended operations at Banco Universal, the agency Equilibrium changed this entity's rating from "negative" to "stable."

The agency will issue a new rating at the end of the 30-day takeover by the superintendency, which was prompted, in part, by the bank's decision to ignore a request to freeze the accounts of major shareholder Felipe Virzi in connection with a corruption investigation.

Source: La Prensa