March 2, 2021
Fitch Ratings said it downgraded the asset management division of Colombian financial services company Grupo Sura by one notch to BBB because "the economic and financial implications of the coronavirus crisis are not yet clear, and downside risks remain."
Fitch also put a negative outlook on the revised ratings, the same as Colombia, Peru and Uruguay, three countries in the region where Sura Asset Management operates, the rating agency said in a report on Friday.
"Capital markets volatility is l
Sura AM faces "downside risks" as the economic impact of the COVID-19 pandemic remains unclear, rating agency says