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LatAm ratings roundup through April 1


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LatAm ratings roundup through April 1

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 1

* Standard & Poor's Ratings Services its global scale issuer creditratings on China ConstructionBank (Brasil) Banco Múltiplo S/A to B+/B from BB-/B and itsnational scale rating to brBBB from brA-, simultaneously placing the ratings onCreditWatch developing.

* Fitch Ratings maintainedon Rating Watch Negative the insurer financial strength ratings of BB on theinternational scale and AAA(slv) on the national scale of andSISA VIDA SA Seguros dePersonas.

* Moody's downgradedBarbados' government bond rating and issuer rating to Caa1 from B3 and changedthe outlook to stable from negative. The country's long-term ceiling bankdeposit rating and ceiling rating were also downgraded to Caa2 and B3 from Caa1and Ba3, respectively. Meanwhile, the short-term ceiling bank deposit ratingand ceiling rating were both affirmed at NP.

* Fitch lowered its issuer financial strength rating onAseguradora Suiza Salvadoreña SAAsesuisa to EAA+(slv)' from EAAA(slv), with a stable outlook.

* Fitch affirmed and withdrew its national ratings on . The ratingswithdrawn include a long-term deposit rating of AA-(cl), with a negativeoutlook, and a short-term deposit rating of N1+(cl).

March 31

* S&P affirmed its counterparty BB global scale- and brAA-national scale local currency issuer credit ratings for . The ratings have a negative outlook. Afterthe affirmation, the S&P removed the ratings at the request of the issuer.

* A.M. Best affirmed the financial strength rating of A- (Excellent)and the issuer credit rating of "a-" of Costa Rica's . Theoutlook for the ratings remains stable.

* S&P affirmed its BBB long- and A-2 short-term foreign andlocal currency issuer credit ratings on Financiera de Desarrollo Territorial SA.

* Fitch affirmed The Bank of Nova Scotia (Costa Rica) SA's long-termnational rating at AAA(cri) with a stable outlook and the bank's short-termnational rating at F1+(cri). The bank is formerly known as .

* Fitch affirmedBanco Popular y de DesarrolloComunal SA's long-term foreign and local currency issuer defaultratings at BB+. The outlook is negative. Fitch also affirmed the bank'sshort-term foreign and local currency issuer default ratings at B, viabilityrating at "bb+," support rating at 3 and support rating floor at BB.The national ratings in Costa Rica and the bank's issuances in El Salvador andPanama were also affirmed.

* Moody's withdrew its long-term issuer and corporate familyratings of Ba1 on Companhia deCrédito Financiamento e Investimento RCI do Brasil SA. The ratingagency also withdrew RCI Brasil's long-term Brazilian national scale issuerrating of

* Moody's affirmed Mexico's A3 issuer and government bond ratingsbut changed the outlook to negative from stable. The senior secured andunsecured government bond ratings were affirmed at A3, as were the seniorunsecured MTN and senior unsecured shelf program ratings at (P)A3, Moody'ssaid. Mexico's long-term local currency country risk ceilings of Aa3 as well asits foreign currency bond ceiling and the foreign currency bank depositceilings at A1 and A3, respectively, were unchanged. The short-term foreigncurrency bond and deposit ceilings remain at P-1 (Prime-1) and P-2 (Prime-2),respectively.

March 30

* S&P affirmed Bradesco Seguros SA's issuer credit and financialstrength national ratings at brAA-. The outlook remains negative.

* Fitch affirmed the national scale rating of Banco Bilbao Vizcaya Argentaria Chile SA at AA(cl), witha stable outlook.

* Fitch affirmed and at the same time the A-(cl) national scalerating of Rigel Seguros de VidaSA. The outlook was stable at the time of the withdrawal.

* S&P affirmed Multibank Inc.'s long- and short-term issuer creditratings at BBB- and A-3, respectively, with a stable outlook. The bank'sstand-alone credit profile remains at "bbb-."

* Fitch affirmed Scotiabank Chile's long- and short- term deposits atAAA(cl) and N1+(cl), respectively, with stable outlook on the long-term rating.

* S&P raised its global scale ratings on to BB from BB- and its long-term national scalecounterparty credit ratings to mxA from mxBBB+. The bank's short-term nationalscale counterparty credit rating was affirmed at mxA-2, and the outlook remainsstable.

* S&P placed its BB/B global scale and brA+/brA-1national scale ratings on BancoVotorantim SA on CreditWatch negative. S&P also placed its brA-subordinated debt rating on BVLeasing Arrendamento Mercantil SA and its brA+/brA-1 ratings onVotorantim FinançasSA on CreditWatch negative.

* Fitch affirmed BancoSecurity SA's long- and short-term deposit ratings at AA–(cl) andN1+(cl), respectively. The outlook on the long-term rating is stable. Therating agency also affirmed GrupoSecurity SA's solvency ratings at A+(cl) with a stable outlook.

* Fitch affirmed Banco BICE's viability rating at "bbb+" andforeign and local currency long-term issuer default ratings and BBB. Fitch alsoaffirmed the bank's foreign and local currency short-term issuer defaultratings at F2, support rating at 3 and support rating floor at BB+. The long-and short-term national ratings were affirmed at AA(cl) and N1+(cl),respectively. The long-term ratings hold a stable outlook.

March 29

* Fitch affirmed FM Global de Mexico SA de CV's national scale rating atAAA(mex), with a stable outlook.

* Fitch affirmed the long-term insurance financial strengthrating of Mapfre La CentroAmericana SA at AA-(slv). The insurer's issuer rating on theregulatory scale of El Salvador at EAA-(slv) was also affirmed. Both ratingshave a stable outlook.

* S&P affirmed Banco do Nordeste do Brasil SA's global and nationalissuer credit ratings at BB/B and brAA-, respectively, but revised the bank'sstand-alone credit profile to bb from bb+. The outlook is negative.

* Fitch withdrew its long- and short-term national ratings forBTG Pactual Group'sunit BTG Pactual Colombia SA.

March 28

* S&P affirmed its BB-/B global scale and brA/brA-2 Braziliannational-scale issuer credit ratings on Banco Daycoval SA. The outlook remains negative.

S&P Ratings andGlobal Market Intelligence are owned by McGraw Hill Financial Inc.