Moody's: Grupo Aval view stable

Moody's Investors Service said it affirmed all of Grupo Aval Acciones y Valores SA's ratings and changed the outlook to stable from negative.

The ratings affirmed were the Baa3 long-term local and foreign currency issuer ratings and Prime-3 short-term local and foreign currency issuer ratings.

The agency also affirmed Grupo Aval's Baa3 long-term foreign currency debt rating of the senior unsecured notes issued by the Cayman Islands-based Grupo Aval Ltd., a fully guaranteed subsidiary of Grupo Aval.

Moody's affirmed all of Grupo Aval's ratings with a stable outlook following the recent capital infusion from existing shareholders, which reduced the holding company's double leverage, as well as the repayment of debt, which also enhanced its liquidity.

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