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LatAm ratings roundup through Dec. 9

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LatAm ratings roundup through Dec. 9

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

* Moody's changed its outlook on MBIA Mexico SA de CV's ratings to developing from negative. The rating agency also affirmed the insurer's global local currency and national scale insurance financial strength ratings at Caa1 and B3.mx, respectively.

* 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.

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