Moody's: Grupo Aval notes Baa3

Moody's Investors Service said it assigned a Baa3 long term foreign currency debt rating to the proposed senior note issuance of up to $1 billion to be issued by Grupo Aval Ltd., the Cayman Islands subsidiary of Grupo Aval Acciones y Valores SA.

The outlook is negative.

Moody's also said it changed the outlook on the existing Baa3 issuer ratings of Grupo Aval and on the existing Baa3 debt rating of Grupo Aval Ltd. to negative from stable.

The Baa3 foreign currency debt rating reflects the irrevocable and unconditional guarantee of Grupo Aval Acciones and is based on Grupo Aval Acciones's Baa3 long-term foreign currency issuer rating, the agency said.

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