trending Market Intelligence /marketintelligence/en/news-insights/trending/5ezaBfum53LFbgG0uS2EnA2 content esgSubNav
In This List

LatAm ratings roundup through April 7

Blog

Latin American and Caribbean Market Considerations Blog Series: Focus on LGD

BLOG

Banking Essentials Newsletter: June Edition

Case Study

กรณีศึกษา A Bank Takes its Project Finance Assessments to a New Level

Blog

Fintech Intelligence Digital Newsletter: May 2021


LatAm ratings roundup through April 7

S&P Global Market Intelligence presents a summary of various ratings actions on Latin American financial institutions and economies. Ratings actions are listed by announcement date in reverse chronological order.

April 7

* Fitch Ratings affirmed Banco Davivienda Salvadoreno SA's long-term issuer default rating at BB-, as well as its support rating at 3 and viability rating at "b." The outlook on the long-term rating is negative.

* Fitch affirmed the ratings of several Colombian banks, including Citibank Colombia SA, Banco Falabella SA, Banco Santander de Negocios Colombia SA, Banco ProCredit Colombia SA, Banco Multibank SA and Banco Agrario de Colombia SA. Fitch also downgraded Banco CorpBanca Colombia SA's long-term national rating to AA+(col) from AAA(col), while revising the outlook to negative from stable.

* Fitch affirmed the national financial strength ratings at AA+(col) for insurers Axa Colpatria Seguros de Vida SA and AXA Colpatria Seguros SA.

* Fitch affirmed Banco Agrícola SA's long-term issuer default rating at BB-, with a negative outlook. Fitch also maintained the bank's short-term issuer default rating at B; viability rating at "b"; long-term national rating at AAA(slv), with a stable outlook; and short-term national rating at F1+(slv).

* Fitch maintained Uruguay's long-term foreign and local currency issuer default ratings at BBB-, with a stable outlook; country ceiling at BBB+; and short-term foreign and local currency issuer default ratings at F3.

April 6

* S&P Global Ratings affirmed its BB global and brA+/brA-1 national scale ratings on Banco Votorantim SA. The rating agency also affirmed unit Votorantim Finanças SA's brA+/brA-1 ratings, but then withdrew them at the company's request, and assigned brA+/brA-1 ratings to BV Leasing Arrendamento Mercantil SA. The outlook on all of the ratings is negative.

* S&P affirmed its BBB long-term and A-2 short-term issuer credit ratings on Banco Bilbao Vizcaya Argentaria Uruguay SA, keeping the outlook at negative. The bank's stand-alone credit profile remains unchanged at "bbb-."

* S&P affirmed its BB/B issuer credit ratings on Banco do Brasil SA. The outlook on the long-term ratings is negative.

* Fitch affirmed the national insurer financial strength rating of Seguros de Vida Suramericana SA at A+(cl), with a stable outlook.

April 4

* DBRS withdrew its sovereign credit ratings on Peru at the rating agency's own discretion.

* Fitch affirmed its long- and short-term national ratings on Sociedad de Ahorro y Crédito Apoyo Integral SA at BBB-(slv) and F3(slv), respectively. The outlook on the ratings is stable.

* S&P lifted its foreign and local currency issuer credit ratings on Banco de la Provincia de Buenos Aires, Banco Hipotecario SA, Banco Patagonia SA and Banco de Galicia y Buenos Aires SA to B from B-, with a stable outlook. S&P also raised the short-term issuer credit rating on Banco Patagonia to B from C.

* Moody's downgraded CI Casa de Bolsa, SA de CV's global long-term local currency issuer rating to Caa1 from B3 and its long-term Mexican national scale issuer rating to B2.mx from B1.mx. The outlook is stable.

* S&P raised Argentina's long-term sovereign credit ratings to B from B-, with a stable outlook. It affirmed the short-term sovereign credit ratings at B and upgraded the national scale ratings to raA+ from raBBB. The rating agency also raised its transfer and convertibility assessment on Argentina to B+ from B-.

April 3

* Moody's affirmed ACE Seguros SA's Ba3 global local currency and Aaa.ar national scale insurance financial strength ratings, while withdrawing Chubb Argentina de Seguros SA's Ba3 global local currency and Aaa.ar national scale insurance financial strength ratings.

* S&P maintained Deutsche Bank México SA Institución de Banca Múltiple and its brokerage unit, Deutsche Securities SA de CV Casa de Bolsa, on CreditWatch negative.

* S&P maintained Investa Bank SA Institución de Banca Múltiple on CreditWatch negative.

* Fitch affirmed the AA(slv) long-term national insurance financial strength rating on Seguros e Inversiones SA, with a stable outlook.

* Fitch published Grupo ASSA SA's long-term issuer default rating of BBB-, with a stable outlook. Fitch also assigned the insurance group an F3 short-term issuer default rating and a "bbb-" viability rating.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.