Moody’s Affirms its Rating on Banco de Bogota and Bancolombia

The rating agency Moody’s gave the two entities a Baa2 rating and revised the outlook from negative to stable.

Moody’s Investors Service changed the outlook for Banco de Bogota and Bancolombia from negative to stable and at the same time affirmed all the ratings and evaluations assigned to these banks, including their long-term local and foreign currency deposit to their Baa2 rating. See more in Companies.

Moody’s also maintained Baa2 foreign currency senior unsecured debt ratings, as well as Baa2 counterparty risk ratings.

Additionally, Moody’s also affirmed the ba1 benchmark credit assessments (BCAs) of these banks and adjusted them by BCAs, and all short-term ratings. Bancolombia’s foreign currency rating for the subordinated debt was also confirmed at Ba2.

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