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Fitch affirms ratings of 2 Bancolombia units

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Fitch affirms ratings of 2 Bancolombia units

FitchRatings on May 6 affirmed the long- and short-term national ratings ofValores BancolombiaSA and FiduciariaBancolombia SA Sociedad Fiduciaria at AAA(col) and F1+(col),respectively.

The ratingshave a stable outlook.

The banks'ratings are based on the equity and operational support they would receive fromBancolombia SA.  Fitch believes the units are essential to theoperation of their parent as part of its universal banking strategy.

The highprobability of assistance from the parent is also based on the units' clearcommercial identification with the parents' brand, the rating agency noted.