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. 9
* Fitch Ratings affirmed the insurance financial strength rating of Seguros Constitucion SA at BB(dom), with a negative outlook.
* S&P Global Ratings affirmed the BB/B global scale and brAA-/brA-1 national scale ratings of Banco Safra SA, while maintaining its outlook at negative.
* S&P affirmed the national scale ratings of Austral Seguradora SA and Austral Resseguradora SA at brA+, with a negative outlook.
* Fitch revised the ratings outlook on Mexico to negative from stable, while maintaining the country's long-term foreign and local currency issuer default ratings at BBB+, country ceiling at A, and short-term foreign and local currency issuer default ratings at F2.
Dec. 8
* S&P revised its banking industry risk assessment on El Salvador to group 8 from 7 and revised its economic risk score to 9 from 8. S&P also lowered its ratings on Banco Agrícola SA to B-/C from B/B, with a negative outlook. The bank's ratings were also removed from CreditWatch negative.
* S&P affirmed Banco Agromercantil de Guatemala SA's long- and short-term global scale issuer credit ratings at BB and B, respectively, with a negative outlook.
* Fitch said its outlook on the Central American insurance sector remains stable for 2017.
* Fitch affirmed the long- and short-term national ratings of Banco Triângulo SA at A-(bra) and F2(bra), respectively. The rating agency also changed the long-term outlook to positive from stable.
* S&P lowered its long-term foreign and local currency sovereign credit ratings on El Salvador to B- from B, ending the placement of the country's ratings on CreditWatch with negative implications. S&P also affirmed its B short-term sovereign credit ratings on the country. The outlook is negative.
Dec. 7
* S&P kept China Construction Bank (Brasil) Banco Múltiplo SA's B+/B global scale and brBBB national scale ratings on CreditWatch developing. The lender's stand-alone credit profile was lifted three notches to "ccc+."
* Fitch raised the national rating of Reaseguradora Delta Ca to A(ven) from A-(ven), with a stable outlook.
* S&P affirmed its AA-/A-1+ issuer credit ratings on Banco del Estado de Chile. The outlook remains stable, while the bank's stand-alone credit profile is unchanged at "a-."
Dec. 6
* Fitch affirmed the AAA(mex) national rating of Profuturo GNP Pensiones SA de CV but revised the outlook to negative from stable.
* Fitch affirmed the national ratings of BICE Vida Compañía de Seguros SA and Chubb de Chile Compania de Seguros Generales SA at AA+(cl), with a stable outlook.
* Moody's withdrew its ratings on Banco Prodem SA.
* Fitch lowered Banco do Estado do Rio Grande do Sul SA's long-term foreign and local currency issuer default ratings to B+ from BB- and the viability rating to "b+" from "bb-." The bank's long- and short-term national ratings were downgraded to A-(bra) and F2(bra), respectively, while its short-term foreign and local currency issuer default ratings were affirmed at B. The outlook is negative.
* S&P affirmed the long- and short-term national ratings of Banco Finterra SA Institución de Banca Múltiple at mxBBB and mxA-3, respectively. The outlook remains stable.
Dec. 5
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* Fitch affirmed its long- and short-term national ratings on four Costa Rican credit unions following a peer review. The credit unions are Cooperativa de Ahorro y Crédito Ande No.1 RL, Caja de Ahorro y Préstamos de la Asociación Nacional de Educadores, Cooperativa Nacional de Educadores RL and Mutual Cartago de Ahorro y Préstamo.
* S&P affirmed the long- and short-term Brazilian national scale counterparty credit ratings of Banco Morgan Stanley SA at brAA-/brA-1, with a negative outlook.
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