Fitch affirms Banco Agricola

Fitch Ratings said it affirmed Banco Agricola's long-term issuer default rating at BB+, short-term issuer default rating at B, national-scale long-term rating at AA+(slv), national-scale short-term rating at F1+(slv), national-scale rating for its senior unsecured debt at AA+(slv) and national-scale rating for its senior secured debt at AAA(slv).

The outlook is stable.

The ratings on the bank reflect the support that the bank would receive from its parent Bancolombia (BBB) should it be required, the agency said.

While downside potential for Agricola is currently limited, it may be positively affected if Bancolombia is upgraded or Agricola's individual performance continues strengthening in a more benign operating environment, the agency added.

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