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LatAm ratings wrap: Fitch upgrades Banco Security, downgrades Assa Vida

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 22

* Fitch Ratings affirmed Parallax Valores Puesto de Bolsa SA's long- and short-term national ratings at BBB+(dom) and F2(dom), respectively.

* Fitch affirmed Banco Múltiple López de Haro SA's long-term national rating at BBB(dom) and its short-term rating at F3(dom).

* Fitch affirmed Banco Múltiple BDI SA's long- and short-term national ratings at BBB+(dom) and F2(dom), respectively, and revised the outlook to positive from stable.

* Fitch affirmed Motor Crédito SA Banco de Ahorro y Crédito's long- and short-term national scale ratings at A-(dom) and F2(dom), respectively.

* Fitch affirmed Banco Múltiple Santa Cruz SA's long- and short-term national ratings at A-(dom) and F2(dom), respectively.

March 21

* Fitch lowered Assa Compañia de Seguros de Vida SA Seguros de Personas' long-term issuer regulatory scale rating for El Salvador to EAA-(slv) from EAA(slv).

* Fitch affirmed Grupo ASSA SA's long-term issuer default rating at BBB- and withdrew the company's support rating of 5.

March 20

* Fitch affirmed and subsequently withdrew its ratings on Desenvolve SP - Agência de Fomento do Estado de São Paulo SA, including the company's long-term local and foreign currency issuer default ratings of BB-.

March 18

* S&P Global Ratings revised its outlook on nine Brazilian financial institutions, including Banco BTG Pactual SA, Banco Daycoval SA, Banco do Estado do Rio Grande do Sul SA, Banco Inter SA, Banco Mercantil do Brasil SA, Banco Pan SA, Banco Paulista SA, Banco Sofisa SA and Paraná Banco SA.

* Moody's upgraded the long-term Brazilian local currency national scale deposit rating of Banco BMG SA to Baa2.br from Baa3.br, while revising the bank's ratings outlook to stable from negative.

* Fitch upgraded the long-term national scale rating of Banco Security SA to AA(cl), while upgrading the same ratings on Grupo Security SA and Factoring Security SA to AA-(cl).

* Fitch upgraded Banco Consorcio's viability rating to "bbb" from "bbb-." It also affirmed the bank's BBB long- and F2 short-term foreign and local currency issuer default ratings.

* Fitch affirmed Banco BICE's viability rating at "bbb+" and its long-term foreign and local currency issuer default ratings at BBB+.

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