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.
May 25
* Fitch Ratings revised Banco ABC Brasil SA's long-term national scale rating to AAA(bra) from AA+(bra) as a corrective action.
* Fitch Ratings affirmed Banco Nacional de Costa Rica's long- and short-term national scale ratings at AA+(cri) and F1+(cri), respectively.
* Fitch Ratings affirmed Banco Security SA's long and short-term deposit ratings at AA-(cl) and N1+(cl), respectively. The rating agency also affirmed Grupo Security SA's solvency rating at A+(cl), and Factoring Security SA's long and short-term solvency ratings at A+(cl) and N1+(cl), respectively.
* Fitch Ratings maintained Banco de Costa Rica's viability rating of "bb-" on rating watch negative, while affirming the long- and short-term national ratings at AA+(cri) and F1+(cri), respectively.
May 24
* Moody's lowered the long-term national scale deposit rating of Banco Mercantil do Brasil SA to Caa1.br from B3.br, while placing all the bank's long-term ratings and assessments on review for downgrade.
* A.M. Best revised the outlooks to positive from stable and affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit rating of "a-" of IRB-Brasil Resseguros SA.
* Fitch Ratings affirmed Credicorp Capital Holding Colombia SAS' national quality rating at Excellent(col).
* Fitch Ratings affirmed Credicorp Capital Fiduciaria SA's national rating at Excellent(col).
* Fitch Ratings affirmed Scotiabank Chile's long-term national scale rating at AAA(cl).
May 23
* S&P Global Ratings lowered Bolivia's long-term sovereign credit ratings to BB-, three notches below investment grade, from BB, as a fall in commodities exports added to the country's current account deficit.
* Fitch Ratings upgraded Banco Rodobens SA's long-term national rating to AA-(bra) from A+(bra) and its short-term national rating to F1+(bra) from F1(bra).
* Fitch Ratings affirmed Nacional Financiera SNC Institución de Banca de Desarrollo's long- and short-term foreign and local currency issuer default ratings at BBB+ and F2, respectively. Fitch also affirmed the long- and short-term national scale ratings at AAA(mex) and F1+(mex), respectively.
* Fitch Ratings affirmed Instituto del Fondo Nacional de la Vivienda para los Trabajadores' long-term foreign and local currency issuer default ratings at BBB+, the short-term IDRs at F2, the support rating at 2, and the support rating floor at BBB+. Meanwhile, the long- and short-term national scale ratings were affirmed at AAA(mex) and F1+(mex), respectively.
* Fitch Ratings affirmed Instituto del Fondo Nacional para el Consumo de los Trabajadores' long- and short-term corporate ratings at AAA(mex) and F1+(mex), respectively.
* Fitch Ratings affirmed Fondo Especial para Financiamientos Agropecuarios' long- and short-term corporate ratings at AAA(mex) and F1+(mex), respectively.
* Fitch Ratings affirmed Banco Nacional de Obras y Servicios Públicos SNC's long-term foreign and local currency issuer default ratings at BBB+, the short-term foreign and local currency IDRs at F2, the support rating at 2, and the support rating floor at BBB+. The long- and short-term national scale ratings were affirmed at AAA(mex) and F1+(mex), respectively.
* Fitch Ratings affirmed Instituto para la Proteccion al Ahorro Bancario's long-term local and foreign currency ratings at BBB+, and the short-term foreign and local currency ratings at F2. The rating agency also affirmed the company's support rating at 2, support rating floor at BBB+, and the long- and short-term national scale ratings at AAA(mex) and F1+(mex), respectively.
* Fitch Ratings affirmed Fideicomiso de Fomento Minero's long- and short-term counterparty risk ratings at AA(mex) and F1+(mex), respectively.
* Fitch Ratings affirmed Banco Nacional de Comercio Exterior SNC Institución de Banca de Desarrollo's long-term foreign and local currency issuer default ratings at BBB+, its short-term issuer default ratings at F2, support rating at 2, and support rating floor at BBB+. The rating agency also affirmed the long- and short-term national scale ratings at AAA(mex) and F1+(mex), respectively.
* Fitch Ratings affirmed Sociedad Hipotecaria Federal SNC Institución de Banca de Desarrollo's long- and short-term national scale ratings at AA(mex) and F1+(mex).
* Fitch Ratings affirmed Banco Nacional del Ejército Fuerza Aérea y Armada SNC's long- and short-term risk and counterparty ratings at AAA(mex) and F1+(mex), respectively.
* S&P Global Ratings affirmed the long- and short-term issuer credit ratings of both Banco J.P. Morgan SA Institución de Banca Múltiple JP Morgan Grupo Financiero and J.P. Morgan Casa de Bolsa SA de CV J.P. Morgan Grupo Financiero at "mxAAA" and "mxA-1+," respectively.
May 22
* S&P Global Ratings affirmed its B long-term issuer credit rating on Visión Banco SAECA while revising its outlook to positive from stable.
* Fitch Ratings revised the outlook of Banco de la Nación Argentina - Sucursal Uruguay's long-term foreign and local currency issuer default ratings to stable from positive.
May 21
* Moody's upgraded several of Banco del Bajío SA Institución de Banca Múltiple's ratings and changed the outlook on the long-term ratings to stable from positive.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings.
