Moody’s Negative on Bancolombia

Moody’s Negative on Bancolombia

Colombia Corporate & Sovereign Strategy

Moody’s has changed the outlook Bancolombia’s Baa3 ratings to negative, it says. The move follows a review initiated in February after Bancolombia agreed to buy HSBC Panama, which the agency sees possibly pushing the Colombian bank’s capital ratios down. Bancolombia closed the $2.23bn HSBC Panama deal, as well as the $217m purchase of 40% of Banco Agromercantil in Guatamala, last month. Moody’s says it expects capital ratios to stay low over the next 6-12 months, but adds that raising more capit

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