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LatAm ratings wrap: Moody's ups Jamaica; S&P revises Brazil's outlook

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. 13

* AM Best affirmed the financial strength rating of Grupo Nacional Provincial SAB at A(Excellent), the long-term issuer credit rating at "a" and the Mexico national scale rating at "aaa.MX."

* Fitch Ratings affirmed the rating of Fondo de la Vivienda del Instituto de Seguridad y Servicios Sociales de los Trabajadores del Estado as primary administrator of financial credit assets of at AAFC2+(mex).

* Fitch affirmed the national financial strength rating of Reaseguradora Santo Domingo SA at BB+(dom).

* Fitch affirmed the rating of Union De Credito Concreces SA De CV as primary administrator of financial credit assets at AAFC3(mex).

* Fitch affirmed Mexico's long- and short-term foreign and local currency issuer default ratings at BBB and F2, respectively.

Dec. 12

* Moody's upgraded Jamaica's long-term issuer and senior unsecured ratings to B2 from B3 and revised the sovereign outlook to stable from positive.

* Fitch affirmed and withdrew the AAA(bra) long- and F1+(bra) short-term national ratings ratings of China Construction Bank (Brasil) Banco Múltiplo SA.

* Fitch affirmed and subsequently withdrew the long- and short-term issuer default ratings of BBB+ and F1, respectively, on Peru's Banco Agropecuario.

* S&P Global Ratings revised its outlook on the global scale ratings and affirmed the long- and short-term ratings on Banco ABC Brasil SA, Banco Bradesco SA, Banco Citibank SA, Banco do Brasil SA, Banco do Nordeste do Brasil SA, Banco Safra SA, Banco Santander (Brasil) SA, Banco Votorantim SA, B3 SA - Brasil Bolsa Balcão, Banco Nacional de Desenvolvimento Econômico e Social, Itau Unibanco SA, Haitong Banco de Investimento do Brasil SA, Itaú Unibanco Holding SA, China Construction Bank (Brasil) Banco Múltiplo and Caixa Econômica Federal.

* Fitch affirmed the national long- and short-term ratings of Deutsche Bank SA – Banco Alemão at AAA(bra) and F1+(bra), respectively.

* Fitch affirmed the national long- and short-term ratings of Banco ABN AMRO SA at AAA(bra) and F1+(bra), respectively.

* Fitch affirmed national long- and short-term ratings of Banco Caixa Geral Brasil SA at AA-(bra) and F1+(bra), respectively.

* Fitch affirmed the national long- and short-term ratings of Goldman Sachs do Brasil Banco Múltiplo SA at AAA(bra) and F1+(bra), respectively.

* Fitch affirmed the national long- and short-term ratings of Banco Inbursa SA at AAA(bra) and F1+(bra), respectively.

* Fitch affirmed the national long- and short-term ratings of Banco Crédit Agricole Brasil SA at AAA(bra) and F1+(bra), respectively.

* Fitch affirmed the national long- and short-term ratings of Banco Citibank SA at AAA(bra) and F1+(bra), respectively.

* Fitch affirmed the national long and short term ratings of Coltefinanciera SA Compañía de Financiamiento.

* Fitch affirmed the national long- and short-term ratings of Banco Société Générale Brasil SA at AAA(bra) and F1+(bra), respectively.

* Fitch affirmed the national long- and short-term ratings of Banco de Investimentos Credit Suisse (Brasil) SA at AAA(bra) and F1+(bra), respectively.

* Fitch affirmed the national long- and short-term ratings of Banco Rabobank International Brasil SA at AAA(bra) and F1+(bra), respectively.

* Fitch affirmed the national long- and short-term ratings of Bank of America Merrill Lynch Banco Múltiplo SA at AAA(bra) and F1+(bra), respectively.

* AM Best affirmed the financial strength rating of AXA Corporate Solutions Brasil e America Latina Resseguros SA at B++(Good) and the long-term issuer credit rating at "bbb."

Dec. 11

* Fitch placed the AAA(cl) long-term national rating of HSBC Bank (Chile) on Rating Watch Negative while affirming the bank's short-term rating at N1+(cl).

* S&P Global Ratings revised its outlook on Brazil's long-term ratings to positive from stable and also affirmed the country's credit ratings at BB-/B.

* S&P Global Ratings raised Barbados' long- and short-term foreign currency sovereign credit ratings to B-/B from SD/SD, or selective default, and also assigned B- issue-level foreign currency rating to the long-term foreign currency debt issued in the exchange. The rating agency also affirmed Barbados' long- and short-term local currency sovereign credit ratings at B-/B and its issue-level rating on long-term local currency debt at B-.

* Fitch affirmed the long- and short-term national ratings of Banco de América Central SA, BAC Bank Inc., Credomatic de Guatemala SA and Financiera de Capitales SA at AAA(gtm) and F1+(gtm), respectively.

* Fitch affirmed the long- and short-term issuer default ratings of Banco Agromercantil de Guatemala SA at BB+ and B, respectively. It also affirmed the local currency long- and short-term IDRs at BBB- and F3, respectively, while affirmeing also the national long- and short-term ratings at AAA(gtm) and F1+(gtm), respectively. The rating agency also affirmed the long- and short-term national ratings of Financiera Agromercantil SA and Mercom Bank Ltd. at AAA(gtm) and F1+(gtm), respectively.

* Fitch affirmed Banco de los Trabajadores' long- and short-term issuer default ratings at BB- and B, respectively. It also affirmed the lender's local currency issuer default ratings at BB- and B, respectively, while affirming the national long- and short-term ratings at A-(gtm) and F2(gtm), respectively. The rating agency likewise affirmed Financiera de los Trabajadores SA's national long- and short-term ratings at A-(gtm) and F2(gtm), respectively.

* Fitch affirmed Banco G&T Continental SA's long- and short-term issuer default ratings at BB and B, respectively, while also affirming the local currency long- and short-term IDRs at BB and B, respectively. The national long- and short-term ratings were affirmed at AA-(gtm) and F1+(gtm), respectively. The rating agency also affirmed the national long- and short-term ratings of G&T Conticredit, SA, Financiera G&T Continental and GTC Bank Inc. (Guatemala) at AA-(gtm) and F1+(gtm), respectively. The national long- and short-term ratings of the Panamanian affiliate GTC Bank Inc. were also affirmed at A+(pan) and F1(pan), respectively.

* Fitch affirmed Banco de Desarrollo Rural SA's long- and short-term issuer default ratings at BB and B, respectively, while also affirming the local currency long- and short-term IDRs at BB and B, respectively. The national long- and short-term ratings were affirmed at AA+(gtm) and F1+(gtm), respectively. Fitch also affirmed the national long- and short-term ratings of Financiera Rural SA AA+(gtm) and F1+(gtm), respectively.

* Fitch affirmed Banco Industrial SA's long- and short-term issuer default ratings at BB and B, respectively, while also affirming the local currency long- and short-term IDRs at BB and B, respectively. The national long- and short-term ratings were affirmed at AA(gtm) and F1+(gtm), respectively. Fitch also affirmed the national long- and short-term ratings of Contecnica SA, Financiera Industrial SA and Westrust Bank (International) Ltd. at AA(gtm) and F1+(gtm), respectively. The national long- and short-term ratings of Panama-based Bi-Bank SA were affirmed at A(pan) and F1(pan), respectively.

* AM Best affirmed the financial strength rating of Chubb Peru SA Compania de Seguros y Reaseguros at A(Excellent) and the long-term issuer credit rating of "a+."

Dec. 10

* S&P Global Ratings revised the outlook on Seguros El Potosi SA to negative from stable, while affirming the insurer's financial and credit strength ratings at "mxAA."

* Fitch raised the long-term national rating of Asociación Popular de Ahorros y Préstamos to AA-(dom) from A+(dom). The company's short-term national rating was also upgraded to F1+(dom) from F1(dom).

* Fitch upgraded Asociación Cibao de Ahorros y Préstamos's long- and short-term national ratings to AA-(dom) from A+(dom), and F1+(dom) from F1(dom), respectively.

* Fitch affirmed the national long- and short-term ratings of Asociacion Duarte De Ahorros Y Prestamos at BBB-(dom) and F3(dom), respectively.

* Fitch affirmed the national long- and short-term ratings of Asociación La Nacional de Ahorros y Préstamos at BBB+(dom) and F2(dom), respectively.

* Fitch revised the outlook on Humano Seguros SA's ratings to negative from stable, while affirming the national scale financial strength rating at A-(dom).

Dec. 9

* Fitch affirmed the national scale ratings of MetLife Chile Seguros de Vida SA at AAA(cl).

* Fitch affirmed the national scale ratings of MetLife Chile Seguros Generales SA at AA(cl).

* Moody's placed Instituto del Fondo Nacional de la Vivienda para los Trabajadores' SQ1- Servicer Quality Assessment on review for possible downgrade.

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.