Moody’s affirms ratings of Colombian banks; outlook negative on Bancolombia, Banco de Bogota and Davivienda

Moody’s Investors Service affirmed Bancolombia, Banco de Bogota, and Banco Davivienda long-term global local and foreign currency deposit ratings as well as the long-term foreign currency senior unsecured debt ratings, following the affirmation of their respective baseline credit assessments (BCAs). At the same time, Moody’s changed to negative, from stable, the outlook on Bancolombia’s ratings, while it maintained the negative rating outlook on Banco de Bogota and Davivienda. These actions follow the change in outlook to negative, from stable, on Government of Colombia’s Baa2 government bond rating, on 3 December 2020. Moody’s also affirmed the ratings assigned to Grupo Aval Acciones y Valores S.A. and Grupo Aval Limited, the outlook remains negative.

Source: Moody´s