trending Market Intelligence /marketintelligence/en/news-insights/trending/P0NJhyst5HIVyycagfo8Fg2 content esgSubNav
In This List

LatAm ratings roundup through June 2


Banking Essentials Newsletter: 7th February Edition


Insurance Underwriting Transformed How Insurers Can Harness Probability of Default Models for Smarter Credit Decisions

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

LatAm ratings roundup through June 2

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.

June 2

* Moody's withdrew all of its ratings on Asigna, Compensación y Liquidación, including its Baa1 long-term global local currency clearing counterparty rating and its long-term Mexican national scale clearing counterparty rating.

* S&P Global Ratings downgraded Consubanco SA Institución de Banca Múltiple's long-term global scale issuer credit rating to BB- from BB and its national scale issuer credit rating to mxBBB+ from mxA. The ratings were placed on CreditWatch negative. Meanwhile, the short-term national scale ratings were affirmed at mxA-2.

* Moody's downgraded Argentina-based Deutsche Bank SA's global and national scale local currency deposit ratings of B1 and to B3 and, respectively. Moody's also revised the global scale rating outlook to positive.

* S&P affirmed its B long-term issuer credit rating, with a stable outlook, on Vision Banco SAECA.

June 1

* S&P placed its BB+ long-term global scale and mxA+/mxA-1 national scale ratings on Banco Monex SA Institución de Banca Múltiple Monex Grupo Financiero on CreditWatch negative. The rating agency also put on CreditWatch negative Monex Casa de Bolsa SA de CV Monex Grupo Financiero's mxA+/mxA-1 ratings.

* Moody's lowered its global long-term local and foreign currency deposit ratings on Banco Original SA and sister bank Banco Original do Agronegócio SA to B2 from B1, while revising the outlook on both banks to negative from stable. The rating agency also cut both banks' Brazilian long- and short-term national scale deposit ratings to from, while lowering their baseline credit assessments to "b2" from "b1" and their long-term counterparty risk assessments to B1(cr) from Ba3(cr).

May 31

* Fitch Ratings affirmed multiple ratings on Factoring Security SA, Banco Security SA and the parent of both companies, Grupo Security SA, while maintaining a positive outlook on all three firms.

* Fitch affirmed Scotiabank Chile's national ratings at AAA(cl), with a stable outlook. The bank's short-term rating was affirmed at N1+(cl).

* Moody's withdrew all of its ratings on Banco Finansur SA.

* S&P revised its outlook on the ratings of Banque Heritage (Uruguay) SA, Banco Bilbao Vizcaya Argentaria Uruguay SA and MetLife Seguros SA to stable from negative.

* S&P affirmed El Salvador-based Banco Agrícola SA's B-/B issuer credit ratings, while maintaining the outlook at negative.

* Moody's changed its outlook on dozens of Brazilian financial institutions and their affiliates to negative from stable, while affirming all of the affected ratings and assessments.

May 30

* Moody's affirmed Swiss Re Corporate Solutions Brasil Seguros SA's Baa3 global local currency insurance financial strength rating and its national scale insurance financial strength rating.

* S&P revised its outlook on Banco Ahorro Famsa SA Institución de Banca Múltiple to negative from stable, while affirming its B global scale and mxBBB-/mxA-3 national scale ratings.

* Fitch affirmed Banco Nacional de Costa Rica's long- and short-term national ratings at AA+(cri) and F1+(cri), respectively. The outlook on the long-term rating is stable.

* Fitch affirmed Banistmo SA's long-term national rating at AAA(pan) with a negative outlook. The lender's short-term national rating was affirmed at F1+(pan).

* S&P revised Uruguay's outlook to stable from negative. The rating agency also affirmed Uruguay's BBB long-term foreign and local currency sovereign credit ratings and A-2 short-term foreign and local currency ratings.

* Fitch affirmed Banco de Costa Rica's national long-term ratings at AA+(cri). The outlook is stable.

* S&P placed its BBB+ financial strength rating on SCOR Brasil Resseguros SA on CreditWatch with negative implications.

May 29

* Moody's downgraded Banco de la República Oriental del Uruguay's baseline credit assessment, or BCA, and adjusted BCA to "baa3" from "baa2." Moody's also affirmed the bank's global and Uruguayan national scale deposit ratings at Baa2 and, respectively, with a negative outlook on the global scale ratings and a stable outlook on the national scale ratings.

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