S&P puts Gruposura on watch

Standard & Poor's said that it placed the ratings on Grupo de Inversiones Suramericana SA, including the BBB- long-term corporate credit rating and the BBB- senior debt rating, on CreditWatch with negative implications.

The CreditWatch placement follows the announcement that Gruposura has reached an agreement to acquire the pension, insurance and investment funds operations of ING Insurance International BV in Chile, Mexico, Peru, Uruguay and Colombia for about $3.8 billion, the agency said.

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