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LatAm ratings roundup: Venezuela lowered; outlook on 5 Argentine firms revised

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LatAm ratings roundup: Venezuela lowered; outlook on 5 Argentine firms revised

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.

Nov. 17

* S&P Global Ratings affirmed its BBB long- and A-2 short-term issuer credit ratings of Chilean credit union Cooperativa del Personal de la Universidad de Chile Limitada.

* S&P Global Ratings affirmed its long- and short-term national issuer credit ratings on Investa Bank SA Institución de Banca Múltiple at mxBBB+ and mxA-2, respectively, while removing them from CreditWatch negative.

* Fitch Ratings revised its outlook on the long-term issuer default ratings of Banco Santander Río SA, BBVA Banco Francés SA, Banco Macro SA, Banco Supervielle SA and Tarjeta Naranja SA to positive from stable, matching a recent move on the country's sovereign rating.

Nov. 16

* S&P Global Ratings revised the outlook on Barclays Bank México SA Institución de Banca Múltiple to stable from negative and affirmed the long- and short-term counterparty credit risk ratings at mxAAA and mxA-1+, respectively.

* Fitch Ratings maintained the foreign and local currency long- and short-term issuer default ratings of Banco de Comercio Exterior de Colombia SA – BANCÓLDEX, Financiera de Desarrollo Territorial SA, Financiera de Desarrollo Nacional SA, and Banco Agrario de Colombia SA at BBB and F2, respectively. Except for Banco Agrario de Colombia, the long- and short-term national ratings of the banks, along with those of Bancóldex units Fiduciaria Colombiana de Comercio Exterior S.A FIDUCOLDEX and Arco Grupo Bancoldex S.A. Compañia De Financiamiento, were affirmed at AAA(col) and F1+(col), respectively.

* Moody's affirmed all of Banco Pan SA's B1 long- and Not Prime short-term global local and foreign currency deposit ratings as well as its Baa2.br long- and BR-3 short-term Brazilian national scale deposit ratings, as well as the bank's "b2" baseline credit assessment, "b1" adjusted baseline credit assessment and Ba3(cr) long- and Not Prime(cr) short-term counterparty risk assessments.

Nov. 14

* Moody's affirmed the long- and short-term global local and foreign currency deposit ratings of A3 and Prime -2, the long- and short-term Mexican national scale deposit ratings of Aaa.mx and MX-1, and the long- and short-term counterparty risk assessments of A2(cr) and Prime-1(cr) of Banco Nacional de México SA Integrante del Grupo Financiero Banamex, while maintaining a negative outlook.

* Fitch Ratings downgraded Venezuela's long-term foreign currency issuer default rating to RD, or restricted default, from C after it missed two interest payments on its sovereign bonds.

* Fitch Ratings affirmed Banco Pichincha C.A.'s long- and short-term foreign currency issuer default ratings at B, and maintained the bank's viability rating at "b" and support rating at 5.

* Fitch Ratings upgraded Cielo SA's foreign currency issuer default rating to BBB- from BB+. It also affirmed the company's local currency issuer default rating at BBB- and long-term national scale rating at AAA(bra).

* Moody's withdrew all ratings and assessments assigned to Banco Bonsucesso SA, citing its own business reasons.

* Fitch Ratings affirmed Ecuador-based Banco De La Produccion Grupo Promerica's long- and short-term issuer default ratings at B and viability rating at "b."

Nov. 13

* S&P Global Ratings lowered Venezuela's long- and short-term foreign-currency sovereign credit ratings to SD, or selective default, and D from CC and C, citing the Venezuelan government's failure to make $200 million in coupon payments on time.

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