June 30, 2020 |
Fitch Ratings said last week that it downgraded three subsidiaries in Latin America of Spanish bank BBVA, following a cut in the parent company's ratings last week.
The downgrade involved BBVA's banking businesses in Mexico and Colombia along with the Forum subsidiary in Chile, Fitch said in a press release.
After Fitch cut BBVA's ratings by a notch to BBB+ with a stable outlook on June 22, it followed suit on Friday by downgrading the bank's businesses in Mexico and Colombia to BBB and cutting
Rating agency cuts the Spanish bank's businesses in Mexico, Colombia and Chile