trending Market Intelligence /marketintelligence/en/news-insights/trending/one9enfivx5lzc_d9ablea2 content esgSubNav
In This List

LatAm ratings roundup: S&P affirms Banca Afirme; QBE Seguros ratings lowered

Blog

Latin American and Caribbean Market Considerations Blog Series: Focus on LGD

BLOG

Banking Essentials Newsletter: June Edition

Case Study

กรณีศึกษา A Bank Takes its Project Finance Assessments to a New Level

Blog

Fintech Intelligence Digital Newsletter: May 2021


LatAm ratings roundup: S&P affirms Banca Afirme; QBE Seguros ratings lowered

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.

Feb. 16

* Fitch Ratings revised the outlook on National Commercial Bank Jamaica Ltd.'s ratings outlook to positive from stable.

* Fitch Ratings affirmed Crédito Real S.A.B. de C.V. Sociedad Financiera de Objeto Múltiple E.R.'s long and short-term international counterparty risk ratings at BB+ and B, respectively. The long and short-term local currency issuer default ratings were also affirmed at BB+ and B. Its long and short-term national ratings were affirmed at A+(mex) and F1(mex), respectively.

* S&P Global Ratings affirmed at "mxA" and "mxA-2" the national scale long and short-term ratings of Banca Afirme SA Institución de Banca Múltiple Afirme Grupo Financiero, as well as the bank's subsidiaries Almacenadora Afirme, S.A. de C.V., Organización Auxiliar del Crédito, Afirme Gru, Arrendadora Afirme S. A. de C. V. and Factoraje Afirme S.A. de C.V.

* S&P Global Ratings affirmed Afirme Grupo Financiero S.A. de C.V.'s long and short-term national scale issuer credit ratings at "mxA-" and "mxA-2," respectively.

Feb. 15

* Fitch Ratings lowered its national scale financial strength rating on Colombia-based QBE Seguros S.A. to A(col) from A+(col), with a stable outlook.

* S&P Global Ratings affirmed Crédito Real S.A.B. de C.V. Sociedad Financiera de Objeto Múltiple E.R.'s global scale issuer credit ratings at BB+, and its national scale issuer credit and issue-level ratings at mxA+ and mxA-1.

* S&P Global Ratings affirmed Bankaool SA Institución de Banca Múltiple's long and short-term national scale ratings at "mxBBB-" and "mxA-3," respectively, and removed them from CreditWatch developing, where they were placed in 2017.

* A.M. Best affirmed Austral Resseguradora S.A. and Austral Seguradora SA's financial strength ratings at B++ (Good), and their long-term issuer credit ratings at "bbb+."

Feb. 12

* Fitch Ratings affirmed Banco De Desarrollo De América Latina's long and short-term issuer default ratings at AA- and F1+ respectively, and its long and short-term national ratings in Venezuela at AAA(ven) and F1+(ven) respectively. Also, the bank's long-term national debt rating in Mexico was affirmed at AAA(mex).

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