Fitch Ratingssaid April 5 that it affirmed the national rating of RSA Seguros de Vida SA at AA-(cl) and maintained it on RatingWatch negative.

The rating isbased on the explicit agreement between RSA Seguros and its parent to provide financial support to RSA Seguros' operations if required.

The Rating Watchnegative placement, meanwhile, is explained by the announcement of Royal & SunAlliance parent, RSA Insurance GroupPlc, to sellits Latin American operations to Colombia-based Grupo de Inversiones Suramericana SA unit . The transfer of ownershipwould mean a change in the conditions of support to RSA Seguros, Fitch said.

Fitch expectsthe performance of RSA Seguros' operational indicators to remain stable in the mediumterm, considering the characteristics of its managed business portfolio, but cautionsto be attentive on the potential redefinitions when the purchase by the Sura groupis completed.