Moody’s turns Aval view to stable

Moody’s Investors Service said it changed the outlook on Grupo Aval Acciones y Valores SA to stable from negative and affirmed its and Grupo Aval Ltd.’s Ba2 long-term ratings.

The agency also affirmed Banco de Bogota SA’s ratings, including its Baa2 long-term foreign-currency senior unsecured debt rating, Ba2 long-term foreign-currency subordinated debt rating and ba1 baseline credit assessment. The outlook on Banco de Bogota's ratings remains negative.

“Therefore, the affirmation of Grupo Aval and Grupo Aval Ltd.'s ratings follows the affirmation of Banco de Bogota’s BCA. In turn, the change of the ratings outlook on Grupo Aval and Grupo Aval Ltd. to stable from negative captures Moody's view of Banco de Bogota’s strong financial fundamentals that remain consistent with a ba1 BCA, with manageable potential asset risk and capital pressures. Moody's does not incorporate governmental support in the holding company's ratings,” the agency said in a press release.

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