* María Antonieta Alva was named Peru's new Minister of Economy and Finance, Gestión reported, citing government sources. She replaces Carlos Oliva, who stepped down during the impasse between President Martin Vizcarra and the opposition-backed Congress.
* The board at Peruvian insurer Compania De Seguros De Vida Camara SA has approved its acquisition of Rigel Peru SA Compania De Seguros De Vida's disability, survival and funeral insurance portfolios for an undisclosed amount, the company said in a statement.
MEXICO AND CENTRAL AMERICA
* Fitch Ratings raised Panama-based Credicorp Bank SA's national long-term ratings to AA(pan) from AA-(pan). The upgrade reflects the development and maturity of the bank's business model, which bring about robust financial performance.
* Moody's says a decree authorizing Brazil's central bank to allow entry of foreign capital into financial institutions is credit positive, as it will simplify the process of allowing foreign investment in banks and the formation of foreign banks' branches in the country. The old procedure required presidential approval for foreign ventures in the banking sphere and could take as long as two years to complete, but now the central bank will have the autonomy and power to approve the requests.
* Banco BTG Pactual SA transferred its stake in Neoport Participações to BTG Pactual Holding SA for about 73.2 million reais, Valor Econômico reported. Neoport is a company that keeps segregated the bank's investment in the commodities group Engelhart CTP.
* Fitch Ratings assigned to Brazil's Agência de Fomento do Estado de Santa Catarina S.A. - BADESC long-term local and foreign currency issuer default ratings of BB-, with a stable outlook. The rating agency also assigned a long-term national rating of AA(bra), with a stable outlook.
ANDEAN
* Banco Internacional del Perú SAA said it received about $145.1 million in early tenders for an offer to repurchase its 5.750% due 2020. The tendered amount represents approximately 37.52% of the outstanding notes in total.
* S&P Global Ratings and Fitch Ratings said they will keep Peru's sovereign ratings unchanged despite the country's political situation, according to a statement from the country's ministry of economy and finance. Moody's also said it will keep the stable outlook on the country's sovereign credit ratings.
SOUTHERN CONE
* Economists surveyed by the Argentine central bank say the country might experience a deeper recession, Reuters reported. Inflation is forecast to hit 54.9% in 2019 before easing to 40.5% in 2020, while GDP is also seen to contract 2.9% in 2019.
* Chilean Finance Minister Felipe Larrain estimated economic growth of 2.6% for 2019 and 3.3% for 2020 as the price of copper rises, Reuters reported. Inflation was also forecast at 2.2% and 2.6% for 2019 and 2020, respectively.
* Chilean company RedelCom entered the payment processing market with an open platform that offers credit and debit card payment services through the Transbank network, Diario Financiero reported. Businessman Roberto Chame owns 70% of the platform.
PAN LATIN AMERICA
* Japan's SoftBank Group Corp. appointed Ralf Wenzel CEO of its Latin American Tech Hub, an incubator for startups, joint ventures and strategic partnerships across the region. The Tech hub, which will partner with SoftBank-backed companies to expand their operations to Latin America, intends to create 50 joint ventures in the next five years.
IN OTHER PARTS OF THE WORLD
* Asia-Pacific: Goldman Sachs shuffles Asia M&A team; Blackrock in early talks with Tencent
* Middle East & Africa: Nigeria hikes banks' loans target; Morocco's BCP acquires Cameroon's BICEC
Pablo Jiménez Arandia contributed to this article.
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.
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