trending Market Intelligence /marketintelligence/en/news-insights/trending/PQfQSQ26pOR_CPyfsjSTEg2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

LatAm ratings roundup through Dec. 16

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

Blog

Financial Institutions Factor Transition Risk into Climate-Related Stress Testing


LatAm ratings roundup through Dec. 16

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. 16

* S&P Global Ratings placed its issuer credit and financial strength ratings on Istmo Compañía de Reaseguros Inc. on R, signifying that the company has been placed under regulatory supervision. S&P also suspended the global scale issuer credit and financial strength ratings on units Istmo México Compañía de Reaseguros SA de CV and Liffey Reinsurance Co. Ltd.

* Fitch Ratings revised its rating and sector outlooks on Mexican commercial banks to negative for 2017.

* Fitch affirmed Paraguay's long-term foreign and local currency issuer default ratings at BB, country ceiling at BB+, and short-term foreign and local currency issuer default ratings at B.

* S&P affirmed its BBB- long- and A-3 short-term issuer credit ratings on Global Bank Corp., with a negative outlook. The bank's stand-alone credit profile remains at "bbb-."

Dec. 15

* Fitch affirmed Mercantil Servicios Financieros CA's long- and short-term national ratings at A+(ven) and F1+(ven), respectively.

* Fitch affirmed MMG Bank Corp.'s long- and short-term national ratings at AA-(pan) and F1+(pan), respectively, with a stable outlook on the long-term rating.

* Fitch revised its outlook on the long-term ratings of 13 Mexican financial institutions to negative from stable as part of a portfolio review. The outlook on Banco Santander (México) SA remains stable.

* Fitch Ratings affirmed the long-term ratings of Asociación Popular de Ahorros y Préstamos, Asociación Cibao de Ahorros y Préstamos, Asociación La Vega Real de Ahorros y Préstamos and Asociación La Nacional de Ahorros y Préstamos at AA-(dom), A+(dom), A-(dom) and BBB(dom), respectively. Their short-term ratings were affirmed at F1+(dom), F1(dom), F2(dom) and F3(dom), respectively.

* Moody's withdrew all of its ratings on HSBC Bank Brasil SA - Banco Múltiplo.

* Fitch revised its outlook on Banco del Estado de Chile and Banco Santander Chile's long-term foreign and local currency issuer default ratings to negative from stable, while affirming the ratings of both banks.

* S&P raised its long-term issuer credit rating on Banco Internacional del Perú SAA to BBB from BBB- and revised the bank's stand-alone credit profile to "bbb-" from "bb+."

* Fitch affirmed the long- and short-term national ratings of Banco General (Costa Rica) SA at AAA(cri) and F1+(cri), respectively. The outlook is stable.

* Moody's affirmed Banco Centroamericano de Integración Económica's A1 long- and P-1 short-term issuer ratings. The outlook remains stable. The rating agency also affirmed the bank at Aaa.mx on the Mexican national scale.

Dec. 14

* S&P affirmed Banco Santander Chile's long- and short-term issuer credit ratings at A and A-1, respectively, with a stable outlook. The company's stand-alone credit profile remains at "a-."

* S&P downgraded its global scale rating on Banco de Desenvolvimento de Minas Gerais SA to B- from BB-. The rating agency also lowered the bank's national scale rating to brB- from brA. The outlook is negative.

Dec. 13

* Fitch upgraded Metrofinanciera SAPI de CV SOFOM Entidad Regulada's primary financial asset manager rating to AAFC3-(mex) from AAFC4(mex). The outlook was revised to stable from positive.

* Fitch raised Banco Nacional de Crédito CA Banco Universal's national long-term rating to BBB(ven) from BBB-(ven) and affirmed the bank's long-term issuer default rating at CCC. Fitch lowered Banesco Banco Universal CA's long-term national rating to A(ven) from A+(ven) and its short-term national rating to F1(ven) from F1+(ven). The rating agency also affirmed its issuer default ratings on Banco del Caribe CA Banco Universal and Banco Occidental de Descuento SACA at CCC.

* Fitch said its outlook for Central American bank ratings is stable for 2017.

* Fitch revised its outlook on Chile to negative from stable, while affirming the country's long-term foreign and local currency issuer default ratings at A+ and AA-, respectively. It also maintained the short-term foreign and local currency issuer default ratings at F1+ and the country ceiling at AA+.

* Fitch affirmed, and at the same withdrew, the BBB+ insurer financial strength rating of Maxseguros EPM Ltd. The outlook was stable.

* S&P affirmed its BB-/B global scale and brA-/brA-2 national scale issuer credit ratings on BRB-Banco de Brasília SA, while keeping the outlook at negative.

Dec. 12

* Fitch affirmed the national financial strength ratings of Liberty Seguros SA and La Previsora SA Cia de Seguros at AAA(col), with a stable outlook.

* Moody's downgraded its baseline credit assessments, or BCAs, and adjusted BCAs on Banco Santander Chile and Banco de Chile to "a3" from "a2." Moody's confirmed its long-term global local and foreign currency deposit ratings on both banks at Aa3, while their long-term foreign currency counterparty risk assessments were confirmed at Aa3(cr).

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