República Negocios Fiduciarios

The Rating Board of FIX SCR Uruguay Calificadora de Riesgo S.A. –FIX-, meeting on December 13, 2022, upgraded to Category 1FD(uy) from 2+FD(uy) the rating of República Negocios Fiduciarios.

The rating upgrade is based on the consolidation of the significant advances observed in the development of management systems, which translates into obtaining a comprehensive system with automatic cross-sectional controls, which reduces operational risk, as well as the development of the succession plan for management positions started in 2021. The growing generation of new businesses, greater diversification in the areas of activity of the trusts and their greater complexity have also been considered.

FIX highlights that the rating of República Negocios Fiduciarios also reflects its belonging to the Banco de la República Oriental del Uruguay (BROU) Group, as well as the operational support provided by República AFISA, the adequate controls it has and its qualified management. Likewise, it incorporates its good performance, its healthy liquidity and solvency ratios and the good potential of the company to continue generating new trust business.

The 1FD(uy) category, the highest rating on the scale defined by FIX, indicates:

"The institution rated at this level demonstrates the highest levels of skill and performance in most aspects evaluated. Its organization, technology, as well as its operation, communication and control systems are of the highest quality".