Fitch changes Banco BMG views

Fitch Ratings said it affirmed Banco BMG SA's long-term foreign and local currency issuer default ratings at B+ and viability rating at b+.

At the same time, Fitch affirmed BMG's long-term and short-term national ratings at A(bra)/F1(bra).

The outlook on the issuer default ratings was revised to stable from positive and the outlook on the national rating was revised to negative from positive.

Fitch said it revised the outlooks on BMG's ratings as the agency expects the impact of the coronavirus on the economy to weigh on the bank's asset quality and profitability.

However, the bank's liquidity metrics remain adequate, Fitch noted.

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