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LatAm Ratings Roundup: Moody's ups 2 Salvadoran banks; S&P revises BRB's outlook

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LatAm Ratings Roundup: Moody's ups 2 Salvadoran banks; S&P revises BRB's outlook

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.

March 2

* Moody's revised its outlook on the ratings of Colombia's Banco Davivienda SA to negative from stable. The bank's long and short-term global local and foreign currency deposit ratings were also affirmed at Baa3 and P-3, and its long and short-term counterparty risk assessments were affirmed at Baa2(cr) and P-2(cr), among other actions.

* A.M. Best placed under review with developing implications QBE De México Compañía De Seguros S. A. De C. V.'s financial strength rating of A-(Excellent), long-term issuer credit rating of "a-," and Mexico National Scale Rating of "aaa.MX."

March 1

* Fitch Ratings withdrew the A(mex) rating of Seguros Ve por Más SA Grupo Financiero Ve por Más from Rating Watch Negative.

Feb. 28

* S&P Global Ratings revised its outlook on BRB-Banco de Brasília SA to positive from stable, while affirming the bank's global scale ratings at B+/B. The national scale ratings were also affirmed at brA-/brA-2.

* Moody's upgraded Banco De Desarrollo De El Salvador's long-term foreign currency issuer rating to B3 from Caa1, as well as its baseline credit assessment and adjusted baseline credit assessment to "b3" from "caa1." Meanwhile, Banco Agrícola SA's long-term foreign currency deposit rating was adjusted to B1 from B2, its baseline credit assessment to "b3" from "caa1," and its adjusted baseline credit assessment to "b1" from "b2," among others.

Feb. 27

* Moody's affirmed QBE Seguros La Buenos Aires S.A.'s global local-currency insurance financial strength ratings at Ba2, and its Argentine national scale rating at Aaa.ar.

Feb. 26

* Fitch Ratings removed Banco Ve por Más SA Institución de Banca Múltiple Grupo Financiero Ve por Más' ratings from Rating Watch Negative.

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