Fitch puts five Latam banks under review

Fitch Ratings said it placed certain ratings of five Latin American banks on under criteria observation following the publication of its updated bank rating criteria on Nov. 12.

The banks whose ratings have been placed on UCO are Banco BICE, Banco de Brasilia SA, Banco Consorcio, Banco Fibra SA, and Banca Mifel, SA.

The UCO applies to their long-term issuer default ratings, except for Banco Consorcio's. The national ratings of these entities are unaffected by this review because Fitch said it does not apply UCO to national ratings.

Fitch said it will review all ratings placed UCO no later than six months from today.

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