trending Market Intelligence /marketintelligence/en/news-insights/trending/fu8gg-lzebknxhkp7hysma2 content esgSubNav
In This List

LatAm Ratings Roundup: Moody's upgrades El Salvador; Fitch affirms Chile

Blog

Getting an Edge with Services: Driving optimization by embracing technological innovation

Blog

Banking Essentials Newsletter: August 21st Edition

Blog

The Four Steps of Effective Due Diligence

Blog

Banking Essentials Newsletter: July 24th Edition


LatAm Ratings Roundup: Moody's upgrades El Salvador; Fitch affirms Chile

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.

Feb. 23

* Moody's upgraded El Salvador's long-term issuer and senior unsecured debt ratings to B3 from Caa1 and affirmed its stable outlook.

* Moody's revised its outlook on Colombia's ratings to negative from stable.

* Moody's revised the outlooks to negative from stable for Colombian lenders Bancolombia SA and Banco de Bogotá SA.

* Moody's revised its outlook on Colombia's Seguros Generales Suramericana SA and Seguros De Vida Suramericana S.A. to negative from stable, and affirmed the two companies' global scale insurance financial strength ratings at Baa2.

* S&P Global Ratings affirmed Quálitas Compañía de Seguros S.A. de C.V.'s long and short-term counterparty credit and financial strength national scale ratings at "mxAA+" and "mxA-1+." S&P also affirmed Quálitas Controladora SAB de CV's counterparty credit global scale rating at BB+.

* S&P Global Ratings affirmed Seguros Afirme SA de C.V.'s long-term financial strength and national scale issuer credit ratings at "mxA," and its short-term issuer credit rating at "mxA-2."

* Fitch Ratings affirmed American Express Bank (México) SA Institución de Banca Múltiple's long and short-term national counterparty risk ratings at AAA(mex) and F1+(mex), respectively.

* Fitch Ratings affirmed Chile's long-term foreign currency issuer default rating at A, with a stable outlook.

Feb. 22

* Fitch Ratings lowered Bankaool SA Institución de Banca Múltiple's long and short-term national ratings to B(mex) from BBB-(mex) and F3(mex), respectively. Meanwhile, Fitch downgraded Banco Finterra SA Institución de Banca Múltiple's long-term national rating to BBB-(mex) from BBB(mex) and affirmed its short-term national rating at F3(mex).

* Fitch Ratings upgraded the long-term national ratings of Banco BTG Pactual SA and BTG Pactual Holding SA to A+(bra) from A(bra), and affirmed their short-term national ratings at F1(bra). The two companies' long-term foreign and local currency issuer default ratings were affirmed at BB-, and their short-term issuer default ratings were affirmed at B. Their support ratings were both affirmed at 5, and their support rating floors were both affirmed at NF. Furthermore, Banco BTG Pactual's viability rating was affirmed at "bb-."

Feb. 21

* Fitch Ratings upgraded the national insurer financial strength rating of MAPFRE Seguros Guatemala SA to AA+(gtm) from AA(gtm) while assigning a stable outlook.

Feb. 20

* S&P Global Ratings assigned brAA-/brA-1+ long- and short-term issuer credit ratings on the Brazilian national scale to Banco Sumitomo Mitsui Brasileiro SA.

* S&P Global Ratings revised the outlook for the long-term rating of Union de Credito Credipyme, S.A. de C.V. to stable from negative.

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