Fitch Ratings
33 Whitehall Street, New York, NY 10004
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Bancolombia’s acquisition of BAM unlikely to impact on rating
October 31, 2015
Following the announcement in September of Bancolombia’s agreement to acquire a 20 percent stake in Banco Agromercantil de Guatemala, Fitch Ratings reported Friday that any negative impact would be manageable.With this transaction, Bancolombia will own 60 percent of BAM. According to the report, the acquisition of BAM is in line with the bank’s broader strategy for growth.
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Brazil industry confidence hits 15-year low
October 21, 2015
As Brazilian President Dilma Rousseff tried to reassure investors, the National Industry Confederation said that the entrepreneurs' confidence index had hit its lowest level since the organization began monitoring the indicator in 1999. The indexes fell 0.7 percent in October, declining for a second consecutive time and accumulating a loss of 2.1 points over two months.
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Impeachment would send Brazil into ‘uncharted territory’
October 16, 2015
If initiatives in Brazil toward an impeachment of President Dilma Rousseff succeed, the country would enter an “uncharted territory,” Shelly Shetty, the primary analyst for Brazil at Fitch Ratings, said today during a teleconference to discuss a rating downgrade. There are “considerable uncertainties regarding the impeachment and the feasibility of the impeachment.”
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Garcia named Fitch Ratings’ analytical head of Latin American financial institutions
October 11, 2015
Fitch Ratings has promoted Alejandro Garcia, its current managing director, to analytical head of Latin American financial institutions.
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Fitch: Oil woes to weigh on Colombian companies’ cash flows via higher taxes
September 28, 2015
Fitch Ratings expects Colombian corporate cash flows to see pressure from rising taxes from the Colombian government as it seeks to offset lower tax revenue from slumping oil prices. This pressure could be alleviated if the government gains the ability to expand its tax base.
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Opportunities for fund diversification exist in Brazil
September 1, 2015
Due to the easing of limits by the Brazilian Securities and Exchange Commission (CVM) in regards to investment from aboard, portfolio managers and investors will now be able to increase the diversity of their portfolios, at least according to Fitch Ratings.
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Puerto Rico’s stabilizing prices may lure high-yield CEFs
August 24, 2015
Fitch Ratings expects some high-yield U.S. municipal closed-end funds (CEFs) to consider participating in the recently announced $750-million offering from the Puerto Rico Aqueduct and Sewer Authority.
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Fitch reports Colombian corporates remain resilient
August 20, 2015
The credit quality of Colombian corporates remains resilient despite a slowdown in the economy, according to Fitch Ratings. Heavy weighting of the portfolio to the utilities sector has made the ratings more resilient to economic challenges.
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Fitch upgrades Davivienda to ‘BBB,’ revises outlook to ‘Stable’
August 18, 2015
Fitch Ratings last week upgraded Banco Davivienda S.A.'s viability rating to "BBB" from "BBB-" and Issuer Default Ratings to "BBB" from "BBB-." The ratings have been upgraded because the bank restored its capital to levels in line with its peers.
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