Moody's upgrades Consorcio

Moody's upgrades Consorcio

Credit Ratings Moody's Investors Service Debt Fixed Income Capital Markets Uruguay

Moody's said it upgraded savings club Consorcio del Uruguay by one notch to Ba2 with a stable outlook, based on better results over the last two years. "Consorcio has a relatively stable funding structure that derives from the long-term nature of its savings plans and a business model which essentially links its borrowers to its savings plans' contributors," Moody's said in a report on Tuesday. Montevideo-based Consorcio recorded sustained growth in 2020 and 2021 and had increased capital by 15.

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