Fitch acts on Latin American banks

Fitch Ratings said it reviewed a portfolio of Colombian and Central American financial institutions after downgrading Colombia’s sovereign rating to BB+ from BBB- and revised the outlook to stable from negative.

The agency lowered Financiera de Desarrollo Territorial SA (Findeter) and its senior unsecured ratings to BB+ from BBB-; Banco Davivienda SA and its senior unsecured ratings to BB+ from BBB-, its subordinated rating to BB- from BB and junior subordinated rating to B from B+; Financiera de Desarrollo Nacional SA to BB+ from BBB-; BBVA Colombia SA to BBB- from BBB and its subordinated rating to BB from BB+; Banco de Bogota, SA and its senior unsecured ratings to BB+ from BBB-, and subordinated rating BB- from BB; Bancolombia SA and its senior unsecured ratings to BB+ from BBB- and subordinated rating to BB- from BB; Banistmo SA and its senior unsecured ratings to BB+ from BBB-; Banco GNB Sudameris SA to BB from BB+ and its subordinated rating to B+ from BB-; and Gilex Holding SA to BB- from BB and its senior secured rating to BB- from BB.

Fitch also affirmed Sura Asset Management SA and its senior unsecured at BBB.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.