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LatAm ratings wrap: Fitch upgrades Mexico's Banca Mifel, Brazil's Banco Sofisa

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LatAm ratings wrap: Fitch upgrades Mexico's Banca Mifel, Brazil's Banco Sofisa

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.

May 18

* S&P Global Ratings affirmed Bradesco Seguros SA's issuer credit and national-scale financial strength ratings at brAA-.

* Fitch Ratings affirmed Panama-based Popular Bank Ltd. Inc. and Banco Popular Dominicano SA - Banco Múltiple's long- and short-term national risk ratings at A-(pan) and F2(pan), and AA+(dom) y F1+(dom), respectively.

* Fitch Ratings affirmed BHD International Bank (Panamá) SA's long- and short-term national risk ratings at A-(pan) and F2(pan), respectively.

* Fitch Ratings affirmed Banco Cooperativo Sicredi SA's long and short-term national ratings at AA(bra) and F1+(bra), respectively. The rating agency also affirmed Banco Cooperativo do Brasil SA's long-and short-term national ratings at AA-(bra) and F1+(bra), respectively.

* S&P Global Ratings affirmed the long- and short-term issuer credit ratings of the Caribbean Development Bank at AA+ and A-1+, respectively.

May 16

* A.M. Best affirmed Quálitas Compañía de Seguros SA de CV's financial strength rating at B+ (Good), long-term issuer credit rating at "bbb-," and Mexico national scale rating at aa-.MX.

* S&P Global Ratings affirmed Fondo MIVIVIENDA SA's issuer credit rating at BBB+.

* S&P Global Ratings affirmed the long- and short-term issuer credit ratings on BAC International Bank Inc. and Credomatic International Corp. at BB+ and B, respectively.

May 15

* Fitch Ratings upgraded Banca Mifel SA Institución de Banca Múltiple Grupo Financiero Mifel's long-term foreign and local-currency issuer default ratings to BB+ from BB and its viability rating to bb+ from bb.

* Fitch Ratings upgraded Brazil-based Banco Sofisa SA's long-term national rating to A+(bra) from A(bra), while revising the outlook to positive from stable.

* Fitch Ratings affirmed several ratings of the following banks: Banco ABC Brasil SA, Banco BOCOM BBM SA, Banco Daycoval SA, Banco Industrial do Brasil SA, Paraná Banco SA and Banco Alfa de Investimento SA.

* Fitch Ratings affirmed Banco Ve por Más SA Institución de Banca Múltiple Grupo Financiero Ve por Más' foreign and local currency long- and short-term issuer default ratings at BB and B, respectively; its viability rating at bb; its support rating at 5 and its support rating floor at NF. Additionally, the national scale ratings of Banco Ve por Más, Casa de Bolsa Ve por Más SA de CV Grupo Financiero Ve por Más, and Arrendadora Ve por Más SA de CV SOFOM ER Grupo Financiero Ve por Más were all affirmed at A(mex) and F1(mex), respectively.

* S&P Global Ratings affirmed HSBC México SA Institución de Banca Múltiple Grupo Financiero HSBC's long- and and short-term global scale issuer credit ratings at BBB+ and A-2, respectively. The rating agency also affirmed the long- and short-term national scale ratings at mxAAA and mxA-1+, respectively.

May 14

* Fitch Ratings raised the insurer financial strength rating of Guatemala-based Aseguradora de los Trabajadores SA to BBB+(gtm) from BBB(gtm), while revising the outlook to positive from stable.

* S&P Global Ratings affirmed Banco Pan SA's global scale ratings at B+ and B, and its national scale ratings at brBBB+ and brA-2.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings.