August 15, 2019 |
Moody's said it has placed Colombia's GNB Sudameris on review for a possible downgrade after it announced the acquisition of BBVA's business in Paraguay.
GNB's local branch, GNB Paraguay, expects to close the $270m, all-cash transaction by the end of the year and create the largest commercial bank in Paraguay with $3.3bn in total assets and $2.57bn in deposits.
"[The] proposed acquisition of BBVA Paraguay would expose the bank to weaker operating conditions in Paraguay," Moody's said, adding t
Rating agency warns of "weaker operating conditions" in Paraguay and hints at downgrade to come