Fitch Revises Grupo Cooperativo Cajamar Outlook into Positive; Affirms in ‘BB-‘ #Affirmed_AtAugust 3, 2019
GCC is not a legal entity, but a cooperative banking group.
KEY RATING DRIVERS IDRs AND VR GCC’s IDRs and VR reflect the group’s poor asset quality, the vulnerability of its capital to unreserved problem assets and the challenge the group faces to improve its core banking profitability.
GCC’s funding structure is adequate for the group’s business model, as loans are mainly funded with retail deposits.
Improved earnings from its banking business would also be rating positive.
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