S&P lowers Credivalores

S&P said it lowered its long-term issuer credit and senior unsecured debt ratings on Credivalores - Crediservicios SAS to B from B+.

S&P also affirmed its B short-term issuer credit rating on the company.

Accordingly, the agency lowered the stand-alone credit profile on Credivalores to b from b+.

The outlook is stable.

“We lowered the ratings on Credivalores following the deterioration of its risk position due to the significant increase in past due loans over the past few quarters,” the agency said in a news release.

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