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LatAm ratings roundup through July 15


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LatAm ratings roundup through July 15

S&P Global MarketIntelligence presents a summary of various ratings actions on Latin Americanfinancial institutions and economies. Ratings actions are listed byannouncement date in reverse chronological order.

July 15

* S&P Global Ratings revised the ratings of several Brazilian insurers andreinsurers following the country's sovereign downgrade in February and thesubsequent revision of Brazil's P&C insurance industry and country riskassessment.

* Moody's placed on review for downgrade Banco do Estado do Rio Grande do Sul SA's Ba2 long-termglobal rating, national scale local-currency deposit rating and Ba3 foreigncurrency subordinated debt rating. The review also includes Banrisul's baselinecredit assessment of "ba2" and its long-term counterparty riskassessment of Ba1(cr). The bank's other ratings were not affected by the action.

* Moody's assigned a Ba2 global local-currency insurance financialstrength rating and an Uruguayan national scale insurance financialstrength rating to HDI Seguros SA.

July 14

* S&P affirmed the national long-term ratings of and brokerage arm at mxAAA. The outlook is stable. S&P also affirmed theirshort-term ratings at mxA-1+.

* Fitch Ratings affirmed the national insurer financial strength ratingof Axa Corporate Solutions BrasilE America at AAA(bra), with a stable outlook.

July 13

* Fitch lowered Bolivia's long-term foreign and local currencyissuer default ratings, as well as its senior unsecured foreign and localcurrency bond ratings, to BB- from BB. The country ceiling was also downgradedto BB- from BB while the short-term foreign currency issuer default rating wasaffirmed at B. The ratings outlook is stable.

* Moody's withdrew all ratings assigned to and AFBanregio SA de CV SOFOM.

July 12

* S&P affirmed Banco Nacional de Desenvolvimento Econômico e Social'sBB foreign and local currency global scale ratings as well as its brAA-national scale issuer credit rating, all of which have a negative outlook.S&P also affirmed the brAA- issuer credit rating of the bank's coresubsidiary, BNDESPAR.

* Fitch assigned AA-(col) long- and F1+(col) short-term nationalratings to Banco CoomevaSA. The outlook for the long-term rating is stable.

July 11

* Moody's affirmed Chile's issuer and senior unsecured bond ratingsat Aa3 and maintained a stable outlook. Chile's foreign currency bond ceilingremains at Aa1, its foreign currency deposit ceiling remains at Aa3, and itslong-term local currency bond and deposit ceilings remain at Aa1.

* S&P revised its outlook on to positive from stable. At the same time, S&Paffirmed the bank's long- and short-term foreign currency issuer credit ratingsat A/A-1.

* S&P lowered its long-term global-scale rating on Banrisul toBB- from BB and its national-scale rating to brA- from brA+. At the same time,S&P removed its ratings from CreditWatch Negative as it now places theoutlook at negative.

* Fitch withdrew the AA+(pan) long-term national rating ofPanama-based Seguros BanistmoSA.

S&P Global Ratingsand S&P Global Market Intelligence are owned by S&P Global Inc.