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LatAm ratings roundup through Dec. 23

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.

Dec. 22

* S&P Global Ratings affirmed the long- and short-term ratings of Banco Invex SA Institución de Banca Múltiple INVEX Grupo Financiero and brokerage firm INVEX Casa de Bolsa SA de CV at mxA+ and mxA-1, respectively. S&P also affirmed holding company INVEX Controladora SAB de CV's long- and short-term ratings at mxA and mxA-2, respectively. The outlook for the ratings is stable.

* Fitch Ratings assigned several ratings to Grupo Financiero Santander Mexico SAB de CV, including a viability rating of "bbb+" and a support rating of 2. The rating agency also assigned to the bank long- and short-term local- and foreign-currency issuer default ratings of BBB+ and F2, respectively. The long- and short-term national ratings on the bank were set at AAA(mex) and F1(mex), respectively.

* Fitch affirmed Financiera Finca Nicaragua SA's long- and short-term national ratings at BBB+(nic) and F2(nic), respectively. The outlook on the long-term rating is stable.

* Moody's affirmed Banco Santander (México) SA Institución de Banca Múltiple's baseline credit assessment at "baa2".

* S&P affirmed Financiera de Desarrollo Nacional SA's long-term issuer credit rating at BBB, with a negative outlook, while revising the bank's stand-alone credit profile to "bb" from "bb-."

* Fitch affirmed the national scale financial strength rating of Reaseguradora Santo Domingo SA at BB+(dom), with a stable outlook.

* S&P affirmed its financial strength national rating on ACE Seguros SA at mxAAA, with a stable outlook.

Dec. 21

* DBRS confirmed Mexico's long-term foreign- and local-currency issuer ratings at BBB (high) and A (low), respectively, and its short-term foreign- and local-currency issuer ratings at R-1 (low). The trend on all the ratings is stable.

* Fitch affirmed Provincial de Reaseguros CA's international and national insurer financial strength ratings at CCC and A-(ven), respectively, with a stable outlook.

* Fitch affirmed the national scale ratings of Seguros BBVA Bancomer SA de CV Grupo Financiero BBVA BANCOMER, BBVA Bancomer Seguros Salud SA de CV and Pensiones BBVA Bancomer SA de CV at AAA(mex), all with a stable outlook.

* Moody's downgraded Banco de Crédito de Bolivia SA's long-term local-currency deposit rating to Ba2 from Ba1 and the bank's adjusted baseline credit assessment to "ba2" from "baa3." The outlook on the local-currency rating was revised to stable from negative.

Dec. 20

* S&P affirmed Terra Brasis Resseguros' brA long-term issuer credit rating, with a stable outlook.

* Fitch assigned its AAA(mex) long-term rating to Industrial and Commercial Bank of China Mexico SA, with a stable outlook. It also assigned the bank an F1+(mex) short-term rating.

* Fitch affirmed Reaseguradora Patria SAB's international insurer financial strength rating at A-, while revising the rating outlook to negative from stable.

* S&P affirmed Cooperativa del Personal de la Universidad de Chile Limitada's long- and short-term counterparty credit ratings at BBB and A-3, respectively, keeping a stable outlook on the long-term rating. The Chilean credit union's stand-alone credit profile remains unchanged at "bbb."

* Moody's downgraded the long-term global local-currency issuer rating of CCB Brasil Arrendamento Mercantil SA to Ba1 from Baa3, while affirming the company's long-term Brazilian national scale issuer rating at The outlook remains negative.

* S&P downgraded the Bahamas' foreign- and local-currency sovereign credit ratings to BB+/B from BBB-/A-3, with a stable outlook. It also cut the country's transfer and convertibility assessment to BBB- from BBB.

Dec. 19

* Moody's affirmed Cia. de Seguros y Reaseguros Fortalez SA and Compañía de Seguros de Vida Fortaleza SA's global local-currency insurance financial strength ratings at B2 and their Bolivian national scale ratings at The rating agency also revised its outlook on both companies' national scale insurance financial strength ratings to negative from stable.

* Fitch affirmed MAPFRE Seguros Costa Rica SA's national financial strength rating at AAA(cri), with a stable outlook.

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