Fitch: Gruposura notes BBB-

Fitch Ratings said it assigned foreign- and local-currency issuer default ratings of BBB- to Gruposura Finance, which is a wholly-owned subsidiary of Grupo de Inversiones Suramericana (Gruposura).

Fitch also said it expects to assign a BBB- rating to the notes that will likely be issued by Gruposura Finance and irrevocably and unconditionally guaranteed by Gruposura.

Gruposura has a foreign-currency and local-currency issuer default ratings of BBB-, unsecured bonds rating of AAA(col) and commercial paper rating of F1+(col).

The outlook is stable.

The notes will be senior unsecured obligations of the issuer and will rank equal in right of payment with all of its future senior unsecured and unsubordinated indebtedness, Fitch said.

The guarantees will be senior unsecured obligations of Gruposura and will rank equal with all of its other existing and future senior unsecured and unsubordinated indebtedness, the agency said.

The ratings are supported by the company's investments and adequate portfolio diversification, Fitch said.

The ratings also factor in Colombia's positive macroeconomic environment, the agency said.

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