Moody’s ups Sura Asset, SUAM finance

Moody's Investors Service said it upgraded Sura Asset Management’s foreign currency issuer rating to Baa1 from Baa2 and SUAM Finance BV's $500 million backed senior unsecured notes rating to Baa1 from Baa2.

The outlooks on both the issuer and debt ratings remain stable.

Moody’s said the Baa1 rating reflects Sura Asset Management's strong business model and dominant presence in the Latin American region, highlighted by its leading private pension fund management activities, as well at its solid presence in the wealth management through its managed funds business and life insurance products, which complements its pension fund business.

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