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Fitch maintains Rating Watch Negative on Seguros e Inversiones, SISA VIDA

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Fitch maintains Rating Watch Negative on Seguros e Inversiones, SISA VIDA

Fitch Ratings on April 1 maintained on Rating Watch Negativethe insurer financial strength ratings of BB on the international scale andAAA(slv) on the national scale of Seguros e Inversiones SA and SISA VIDA SA Seguros de Personas.

The ratings were placed on negative watch in December 2015 following theannouncement that Grupo Terra SAde CV will acquire Citigroup Inc.'s consumer banking and insuranceoperations in El Salvador, subject to regulatory approval.

Fitch said it believes that Citi has the financial capacityto support these subsidiaries, and that this support will be forthcoming untilthe transaction is approved by regulators.

Seguros e Inversiones and SISA VIDA have adequatecapitalization levels, good capital quality and ample liquidity levels, therating agency noted.

It added that upon the deal's completion, the two companieswill be rated strictly on the basis of their own financial profiles.