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LatAm ratings wrap: S&P ups Banco Mercantil do Brasil, BBVA Continental

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 14

* S&P Global Ratings affirmed the Caribbean Development Bank's long- and short-term issuer credit ratings at AA+ and A-1+, respectively, and also removed the ratings from under criteria observation.

* S&P Global Ratings affirmed Afirme Grupo Financiero SA de CV's national long- and short-term issuer credit ratings at "mxA-" and "mxA-2," respectively. It also affirmed at "mxA" and "mxA-1," respectively, the national long- and short-term issuer credit ratings of Banca Afirme SA Institución de Banca Múltiple Afirme Grupo Financiero, Banco de Inversión Afirme SA, Almacenadora Afirme S.A. de C.V. Organización Auxiliar del Crédito Afirme Grupo, Arrendadora Afirme SA de CV SOFOM E.R. Afirme Grupo Financiero, Factoraje Afirme SA de CV Sociedad Financiera de Objeto Múltiple Entidad R, and Seguros Afirme SA de CV

March 13

* Fitch Ratings affirmed the long-term national scale issuer financial strength rating of SISA VIDA SA Seguros de Personas at AA+(slv).

March 12

* Fitch Ratings affirmed Sura Asset Management SA's long-term foreign and local currency issuer default ratings at BBB+, and the short-term foreign and local issuer default ratings at F2.

* Fitch Ratings withdrew the AA+(col) and F1+(col) long- and short-term national ratings of Itaú CorpBanca Colombia SA. It also affirmed the long-term foreign and local currency issuer default ratings at BBB-, and the short-term issuer default ratings at F3.

March 11

* S&P Global Ratings revised Peru-based BBVA Banco Continental SA's outlook to stable from negative.

* S&P Global Ratings raised its long-term national scale credit rating on Banco Mercantil do Brasil SA to brBBB from brBBB-.

* Fitch Ratings affirmed Fondo De Vivienda De Interes Social Y Reforma Urbana - Corvivienda's long- and short-term national scale ratings at AA-(col) and F1+(col), respectively.

* Fitch Ratings affirmed Pan-American Life Insurance de Costa Rica, S.A.'s national scale financial strength rating at AAA(cri).

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.