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LatAm ratings roundup through April 29

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LatAm ratings roundup through April 29

S&P Global MarketIntelligence presents a summary of various ratings actions on Latin Americanfinancial institutions and economies. Ratings actions are listed byannouncement date in reverse chronological order.

April 29

* Fitch Ratings affirmedits AAA(mex) long-term and F1+(mex) short-term national ratings on , with a stable outlook on the long-term rating.

* Moody's assigned a Baa2 global scale local currency rating andan Aaa.uy national scale insurance financial strength rating to ,with a stable outlook.

* Moody's assigned a Ba3 global scale local currency rating and anA1.uy national scale insurance financial strength rating to ,with a stable outlook.

* Moody's assigned Ba3/Not Prime long- and short-term global localand foreign currency deposit ratings to Banco Patagonia (Uruguay) SAIFE. The bank was alsoassigned national scale local and foreign currency deposit ratings of A2.uy, aswell as long- and short-term global counterparty risk assessments of Ba2(cr)and Not Prime(cr), respectively. It received a baseline credit assessment of"b1."

* Moody's confirmedCorp Group BankingSA's B1 long-term global local and foreign currency issuer ratingsand long-term foreign currency debt rating. The outlook on all the ratings isnow stable.

* Moody's assignedBaa2/Prime-2 long- and short-term global scale deposit ratings, as well as anAaa.uy national scale deposit rating, to Hapoalim (Latin America) SA. All the ratings carry astable outlook. Moody's also assigned the company with Baa1(cr)/Prime-2 (cr)long- and short-term global counterparty risk assessments.

* Fitch affirmed its A+(cl) long-term and N1+(cl) short-termnational ratings on Factoring SecuritySA, with a stable outlook.

* Fitch changed the outlook on 's BBB+(bra) nationalinsurer financial strength rating to negative from stable.

* Fitch affirmed the national long-term ratings of , as well as itsholding company Sociedad Matrizdel Banco de Chile SA and ultimate parent atAAA(cl). The outlook for the ratings is stable.

* Standard & Poor's Ratings Services its BB+/B global scale andmxA+/mxA-1 national scale ratings on Banco Monex SA, with a stable outlook on both scales.The rating agency also affirmed its mxA+/mxA-1 ratings on .

* S&P lowered BM&FBOVESPA SA's long-term issuer credit rating toBB from BB+ and its short-term issuer credit rating to B from A-3. S&P alsoremoved BM&FBOVESPA from CreditWatch with negative implications; however,the outlook is negative for the long-term ratings.

* DBRS confirmed Colombia's long-term foreign currency issuerrating at BBB and long-term local currency issuer rating at BBB(high). Therating agency also confirmed the country's short-term foreign currency issuerrating at R-2 (high) and short-term local currency issuer rating at R-1 (low).The ratings trend is stable.

* Fitch affirmedGuatemala's long-term foreign and local currency issuer default ratings at BB,with a stable outlook. The rating agency also affirmed Guatemala's countryceiling at BB+ and short-term foreign currency issuer default rating at B.

April 28

* Moody's upgraded Itaú CorpBanca's long-term global local and foreigncurrency deposit ratings and foreign currency debt rating to A3 from Baa3, andits short-term global local and foreign currency deposit ratings to Prime-2from Prime-3. Moody's also upgraded the bank's baseline credit assessment, orBCA, to "baa3" from "ba1," its adjusted BCA to"baa2" from "ba1," and its long- and short-termcounterparty risk assessments to A2(cr)/Prime-1(cr) from Baa2(cr)/Prime-2(cr),respectively. At the same time, all of the ratings and assessments assigned toBanco Itaú Chile were withdrawn.

* Fitch placed certain international scale ratings of and some of itssubsidiaries on Rating Watch Negative, including its long-term foreign currencyissuer default rating of BBB+. Affected subsidiaries include , and BanistmoSA.

* S&P affirmed its long- and short-term global scale creditratings on Banco Mercantil doBrasil SA at B- and C, respectively, with a negative outlook. Therating agency also affirmed its brB national scale rating on the Brazilian bank.

* Fitch placed the international ratings of and on Rating Watch Negative. The issuer default ratings of the companies' relatedentities, including CorporacionFinanciera Colombiana SA (Panama) and , werealso placed on Rating Watch Negative.

* Fitch affirmed Banco Compartamos SA Institución de Banca Múltiple'slong- and short-term issuer default ratings at BBB and F2, respectively, with aviability rating of "bbb." The rating agency also affirmed the bank'snational scale long- and short-term ratings at AA+(mex) and F1+(mex),respectively. The outlook is stable on the long-term ratings.

April 27

* S&P affirmed its BB/B and brA+/brA-1 ratings on , itsbrA+/brA-1 ratings on VotorantimFinanças SA and its brA- rating on BV Leasing Arrendamento Mercantil SA's subordinateddebt. All the ratings remain on CreditWatch with negative implications.

* Fitch affirmed the national long- and short-term term ratingsof 11 Mexican subsidiaries of Global Trading and Universal Banks at AAA(mex)and F1+(mex), respectively. The ratings outlook is stable.

* S&P assigned a B+ global scale credit rating and uyBBBnational scale credit rating, both with a stable outlook, to .

* Fitch affirmed the counterparty risk long- and short-termnational ratings at AAA(mex) and F1+(mex), respectively, of and MerrillLynch Mexico SA de CV. The long-term ratings outlook on bothentities is stable.

* Fitch affirmedthe national long-term rating of Banco J.P. Morgan SA Institución de Banca Múltiple JP Morgan GrupoFinanciero and brokerage firm J.P. Morgan Casa de Bolsa SA de CV at AAA(mex). Theoutlook is stable. Fitch also affirmed the companies' short-term ratings atF1+(mex).

April 26

* S&P lowered its long-term issuer credit ratings onRepublic Financial HoldingsLtd. to BBB from BBB+ and affirmed its BBB+ ratings on S&Palso affirmed the short-term ratings on both companies at A-2. The outlook onall ratings remains negative.

* Fitch assigned foreign and local currency long-term issuerdefault ratings of BB+ and short-term issuer default ratings of B to . Fitch also assigned the company national long-and short-term ratings of A+(mex) and F1(mex), respectively. The long-termratings outlook is stable.

* Fitch affirmed the national ratings of subsidiaries Seguros InbursaSA, Fianzas GuardianaInbursa SA and Pensiones Inbursa SA at AAA(mex). Fitch also affirmedSeguros Inbursa's local currency financial strength rating at BBB+. The outlookfor the ratings remains stable.

* Fitch affirmed Aruba's long-term foreign and local currencyissuer default ratings at BBB-, with a stable outlook. Fitch also affirmed thecountry ceiling at BBB and short-term foreign currency issuer default rating atF3. The outlook on the long-term issuer default ratings is stable.

* Moody's assigned long- and short-term global local currencyissuer ratings of Ba2 and Not Prime, respectively, to , with a negative outlook. Moody's also assigned long- andshort-term Brazilian national scale issuer ratings of Aa3.br and BR-1,respectively, to the bank.

* Moody's assigned a Baa2 global scale local currency rating andan Aaa.uy national scale insurance financial strength rating to , with a stableoutlook.

* A.M. Best affirmed La Colonial SA Compania de Seguros' financial strengthrating of B++ (Good) and issuer credit rating of "bbb+." The outlookfor each rating is stable.

April 25

* S&P affirmed its long-term mxA and short-term mxA-2 nationalcounterparty credit ratings on Banco Multiva SA Institución de Banca Múltiple Grupo FinancieroMultiva. The outlook is stable.

* Fitch affirmed the long- and short-term national ratings ofAdministradora de Fondos dePensiones Confía SA at AAA(slv) and F1+(slv), respectively. Theoutlook is stable.

* Moody's affirmed Banco Bonsucesso SA's long- and short-term global localand foreign currency deposit ratings at B2 and Not-Prime. The bank's long- andshort-term Brazilian national scale deposit ratings of Ba1.br and BR-4 werealso affirmed. The company's baseline credit assessment and adjusted baselinecredit assessment of "b2" and its long- and short-term counterpartyrisk assessment of B1(cr)/Not-Prime(cr) were also affirmed.

* Moody's affirmed Guatemala-based ' long- andshort-term local and foreign currency deposit ratings at Ba3/Not Prime, butrevised the outlook on the long-term ratings to negative from stable.

* Fitch affirmed Banco do Estado de Sergipe SA's long- and short-termnational ratings at BBB+(bra) and F2(bra), respectively. The rating agency alsorevised the outlook on the long-term rating to negative from stable.

* Fitch affirmed Bradesco Seguros SA's insurer financial strength ratingat BBB-, with a negative outlook.

* Fitch affirmedthe long- and short-term national ratings of Grupo Bolívar SA at AAA(col) and F1+(col), respectively,with a stable outlook.

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