Banco Patagonia S.A.: Semiannual Update
FINANCIAL INSTITUTIONS CREDIT OPINION 5 January 2017 Update RATINGS Banco Patagonia S.A. Domicile Argentina Long Term Debt Ba3 , Possible Downgrade Type Senior Unsecured - Dom Curr Outlook Rating(s) Under Review Long Term Deposit Caa1 Type LT Bank Deposits - Fgn CurrBanco Patagonia is a commercial bank. Co. is the controlling entity for a group of companies that acts in the Argentine financial and securities markets, which, in addition to the Bank, comprises Patagonia Valores S.A. Sociedad de Bolsa and Patagonia Inversora S.A. Sociedad Gerente de Fondos Comunes de Inversion. In addition, the Bank controls Banco Patagonia (Uruguay) S.A.I.F.E. in the Republic of Uruguay. Co. grants credit facilities to middle-income individuals forming its Salary Plan customer base and to small and medium-sized businesses. As of Dec 31 2013, Co.'s total assets amounted to Arg$30,146,394,000 and its total deposits amounted to Arg$22,067,025,000.
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