Moody's reviews GNB on BBVA deal

Moody's reviews GNB on BBVA deal

M&A Debt Paraguay Colombia Europe

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

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