Moody’s changes Grupo Aval’s view to negative

Moody's Investors Service affirmed Banco de Bogotá SA’s ratings and maintained the negative outlook on all of the bank's supported ratings.

At the same time, Moody's affirmed Grupo Aval Acciones y Valores SA’s and Grupo Aval Ltd.’s ratings and changed their outlooks to negative from stable, including Grupo Aval's Ba2 issuer rating and Grupo Aval Ltd.'s Ba2 senior unsecured debt rating.

The actions follow the change in the outlook of BAC International Bank, Inc, the Central American subsidiary of Banco de Bogota, to negative from stable, the agency said.

The change in BAC’s outlook in turn followed the downgrade of the sovereign bond rating of Costa Rica to B1 with a negative outlook from Ba2, Moody’s added.

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