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Fitch affirms Credicorp's Colombian units

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Fitch affirms Credicorp's Colombian units

Fitch Ratings on Oct. 13 affirmed the short- and long-term national ratings of Credicorp Capital Colombia SA SCB and Credicorp Capital Fiduciaria SA at F1+(col) and AAA(col), respectively.

The outlook on the long-term ratings is stable.

Fitch said that the ratings of both Colombian companies are based on the support they would receive from Peru-based Grupo Credicorp Ltd., their parent company, if needed.

"The operations in Colombia are considered strategically important for Grupo Credicorp's regional expansion process, and contribute to business development and risk diversification," Fitch noted. "In addition, both the commission and the fiduciary benefit from the risk control and best practices of the financial group."