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30.05.2013 23:07:00
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Banco de Credito e Inversiones -- Moody's affirms Bci ratings following acquisition announcement, outlook negative
New York, May 30, 2013 -- Moody's Investors Service has affirmed the ratings of Banco de Crédito e Inversiones (Bci), changing the outlook to negative from stable following its May 24th announcement that it will acquire 100% of CM Florida Holdings, Inc. - 100% owner of City National Bank of Florida (CNBF)- from Spain's Bankia. The acquisition is subject to regulatory approvals and is expected to close between the fourth quarter of 2013 and the first quarter of 2014.
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