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Fitch's Latin American Sovereign Overview report reflects the weakness in economies throughout the region, with Colombian banks facing major headwinds.

The downgrades for Bogotá and Medellín — Colombia's two biggest cities — are the same action Fitch Ratings took against the nation's sovereign rating and state-controlled Ecopetrol in July.

Colombian petroleum company Ecopetrol (BVC:ECOPETROL, NYSE:EC, TSX:ECP) announced Friday that it opened a $175 million USD ($578 billion COP) line of credit with The Bank of Tokyo-Mitsubishi UFJ,Ltd. (NYSE:MUFG, TSE:MUFG) The loan was approved by Minhacienda, Colombia’s finance...

Fitch Ratings has announced that is has withdrawn all of the ratings that it has issued for Banco GNB Sudameris S.A. The Issuer Default Ratings (IDRs) and senior debt ratings have been withdrawn because Banco GNB Sudameris has chosen to stop participating in the rating process....

The strong U.S. dollar, Colombian peso (COP) depreciation and slow growth in Latin American economies are not expected to be serious threats to the credit strengths of Colombia’s largest private banks, says Fitch Ratings. In a strong dollar environment, Colombia’s...

Fitch Ratings has issued the following statement this morning regarding the credit outlook of Avianca Holdings. Fitch Ratings has affirmed the ratings of Avianca Holdings S.A.’s (Avianca Holdings) and its subsidiaries as follows: Avianca Holdings S.A. (Avianca Holdings)...