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LatAm ratings wrap: Moody's upgrades Caixa; Fitch upgrades Banesco Seguros

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.

Oct. 18

* Fitch Ratings affirmed and subsequently withdrew its CCC long-term foreign and local currency issuer default ratings on Agência de Fomento do Estado do Rio de Janeiro SA.

* Fitch downgraded the long-term national ratings of Banco Abank SA, formerly known as Banco Azteca El Salvador SA, to BBB(slv) from AA(slv) and short-term ratings to F3(slv) from F1+(slv). Fitch also resolved its Rating Watch Negative observation on the bank and assigned it a stable outlook.

* Fitch affirmed Promerica Financial Corp.'s long- and short-term issuer default ratings at B+ and B, respectively. The rating outlook is negative.

Oct. 17

* Fitch affirmed the national scale rating of Administradora de Fondos de Pensiones Confía Sociedad Anónima at AA-(slv).

* Fitch affirmed the national long- and short-term ratings of Administradora de Fondos de Pensiones Crecer SA (AFP Crecer) at AA-(slv) and F1+(slv), respectively.

* Fitch affirmed the national long- and short-term ratings of La Hipotecaria SA de CV at AA+(slv) and F1+(slv), respectively.

Oct. 16

* Fitch upgraded the national financial strength rating of Banesco Seguros SA to BBB+(pan) from BBB(pan), while assigning a stable outlook to the company.

* Moody's upgraded Caixa Econômica Federal's stand-alone baseline credit assessment and adjusted baseline credit assessment to "ba3" from "b1." The rating agency also affirmed the bank's long- and short-term global local currency deposit ratings of Ba2 and Not-Prime, long- and short-term foreign currency deposit ratings of Ba3 and Not Prime, and foreign currency senior unsecured debt rating of Ba2.

* Moody's upgraded Banco de los Trabajadores' long-term local and foreign currency deposit ratings to B1 from B3, long-term local and foreign currency counterparty risk ratings to Ba3 from B2, baseline credit assessment and adjusted baseline credit assessment to "b2" from "caa1," and long-term counterparty risk assessment to Ba3(cr) from B2(cr).

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

Oct. 15

* S&P Global Ratings raised Haitong Banco de Investimento do Brasil SA's long-term national scale rating to brAAA from brAA+. The rating agency also affirmed the bank's brA-1+ short-term rating and BB-/B global scale ratings.

* Fitch assigned long- and short-term national ratings of AA-(col) and F1+(col), respectively, to Colombia's Banco Mundo Mujer SA. The outlook on the long-term rating is stable.

Oct. 14

* S&P affirmed its "average" financial asset manager classification on Mexico's Cargill Servicios Financieros SA de CV SOFOM ENR.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.