Moody’s: Banco de Bogota, Grupo Aval views negative

Moody's Investors Service said it confirmed all of Banco de Bogota SA's ratings, including its ba1 standalone baseline credit assessment, Baa2 long-term senior unsecured debt rating and Baa2/Prime-2 long- and short-term deposit ratings.

The agency assigned a negative outlook on these ratings.

The Ba2 subordinated debt rating was also confirmed, as well as the long- and short-term counterparty risk assessments of Baa1(cr) and Prime-2(cr).

At the same time, Moody's confirmed the Ba2 local and foreign currency long-term issuer ratings of Grupo Aval Acciones y Valores, SA and assigned a negative outlook.

It also confirmed Grupo Aval Ltd.’s Ba2 senior unsecured foreign currency debt rating, with a negative outlook.

These actions conclude the rating reviews initiated on March 9.

Moody’s said the Baa2 deposit and senior debt ratings reflect Moody's continued assessment that there is a high probability that Banco de Bogota will benefit from government support in the event of financial stress. However, these ratings carry a negative outlook to reflect negative pressure on the bank's baseline credit assessment.

The negative outlook on Grupo Aval ratings mirrors the outlook on Banco de Bogota, the agency said.

© 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.