Fitch lifts BBVA Colombia

Fitch Ratings said it upgraded BBVA Colombia SA’s issuer default ratings to BBB+ from BBB following the May 29th upgrade of its parent, BBVA.

The upgrade reflects the support that the bank will receive from its parent, should it be needed, Fitch said.

Given its profitability and growth potential, BBVA Colombia is considered a strategically important subsidiary of its parent in Latin America, the agency said.

The ratings upgraded include BBVA Colombia’s foreign- and local-currency short-term issuer default ratings to F2. The bank’s national long-term rating was affirmed at AAA(col), national short-term rating at F1+(col), national senior unsecured debt at AAA(col) and national long-term subordinated debt at AAA(col).

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