Fitch: BBVA Colombia BBB-

Fitch Ratings said it assigned a long-term foreign-currency issuer default rating of BBB- to BBVA Colombia, along with a short-term foreign-currency issuer default rating at F3, long-term local-currency issuer default rating at BBB+ and short-term local-currency issuer default rating at F2.

The outlook is positive.

BBVA Colombia's ratings reflect the support it would receive from its parent, BBVA should it be required, Fitch said.

The ratings also consider its resilient margins, improving profitability and asset quality, adequate reserves, low loan concentration and relative efficiency, the agency said.

As economic prospects brightened for Colombia, so did corporate and consumer confidence, fueling credit demand and consumption, Fitch said.

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