Fitch keeps Bancolombia on watch

Fitch Ratings said it maintained Bancolombia SA’s and certain foreign subsidiaries' selected international ratings on Rating Watch Negative.

At the same time, the agency affirmed other Bancolombia ratings, as well as some of its subsidiaries', which are not directly affected by the watch status.

The ratings remain on watch pending further review of the bank's recapitalization plans. Fitch said it will resolve the Rating Watch Negative after assessing the evolution of Bancolombia's capital metrics for consistency with the current rating levels.

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