Tuesday, November 22, 2016

Fitch Affirms Popular's Long- & Short-Term IDRs; Outlook Stable

(The following statement was released by the rating agency)

NEW YORK, November 22 (Fitch) Fitch Ratings has completed a peer

review of its

two rated Puerto Rican banks and has affirmed the Long-Term

Issuer Default

Ratings (IDRs) at 'BB-' and Short-Term IDRs at 'B' for Popular

Inc. (BPOP) and

its subsidiaries. The Rating Outlook is Stable. A full list of

rating actions

follows at the end of this release.

KEY RATING DRIVERS

IDRs, VRs, AND SENIOR DEBT

BPOP's current rating levels incorporate t

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