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 tha
Rating agency warns of "weaker operating conditions" in Paraguay and hints at downgrade to come