Please Note
We brought you to this page based on your search query. If this isn't what you are looking for, you can continue to Search Results for ""
The maximum number of items you can export is 3,000. Please reduce your list by using the filtering tool to the left.
Close
Está por salir del sitio local de Argentina y comenzará a navegar en el sitio global. ¿Desea continuar?
No mostrar este mensaje nuevamente
No
Close
Email Research
Recipient email addresses will not be used in mailing lists or redistributed.
Recipient's
Email

Use semicolon to separate each address, limit to 20 addresses.
Enter the
characters you see
Close
Email Research
Thank you for your interest in sharing Moody's Research. You have reached the daily limit of Research email sharings.
Close
Thank you!
You have successfully sent the research.
Please note: some research requires a paid subscription in order to access.
Already a customer?
LOG IN
Don't want to see this again?
REGISTER
OR
Accept our Terms of Use to continue to Moodys.com:
​​

PLEASE READ AND SCROLL DOWN!

By clicking “I AGREE” [at the end of this document], you indicate that you understand and intend these terms and conditions to be the legal equivalent of a signed, written contract and equally binding, and that you accept such terms and conditions as a condition of viewing any and all Moody’s inform​ation that becomes accessible to you [after clicking “I AGREE”] (the “Information”).   References herein to “Moody’s” include Moody’s Corporation, Inc. and each of its subsidiaries and affiliates.

Terms of One-Time Website Use

1.            Unless you have entered into an express written contract with Moody’s to the contrary, you agree that you have no right to use the Information in a commercial or public setting and no right to copy it, save it, print it, sell it, or publish or distribute any portion of it in any form.               

2.            You acknowledge and agree that Moody’s credit ratings: (i) are current opinions of the future relative creditworthiness of securities and address no other risk; and (ii) are not statements of current or historical fact or recommendations to purchase, hold or sell particular securities.  Moody’s credit ratings and publications are not intended for retail investors, and it would be reckless and inappropriate for retail investors to use Moody’s credit ratings and publications when making an investment decision.  No warranty, express or implied, as the accuracy, timeliness, completeness, merchantability or fitness for any particular purpose of any Moody’s credit rating is given or made by Moody’s in any form whatsoever.          

3.            To the extent permitted by law, Moody’s and its directors, officers, employees, representatives, licensors and suppliers disclaim liability for: (i) any indirect, special, consequential, or incidental losses or damages whatsoever arising from or in connection with use of the Information; and (ii) any direct or compensatory damages caused to any person or entity, including but not limited to by any negligence (but excluding fraud or any other type of liability that by law cannot be excluded) on the part of Moody’s or any of its directors, officers, employees, agents, representatives, licensors or suppliers, arising from or in connection with use of the Information.

4.            You agree to read [and be bound by] the more detailed disclosures regarding Moody’s ratings and the limitations of Moody’s liability included in the Information.     

5.            You agree that any disputes relating to this agreement or your use of the Information, whether sounding in contract, tort, statute or otherwise, shall be governed by the laws of the State of New York and shall be subject to the exclusive jurisdiction of the courts of the State of New York located in the City and County of New York, Borough of Manhattan.​​​​

I AGREE
Rating Action:

MOODY'S ASSIGNS RATINGS TO FOUR COLOMBIAN BANKS

16 May 1996
MOODY'S ASSIGNS RATINGS TO FOUR COLOMBIAN BANKS New York, 05-16-96 -- Moody's Investors Service assigned long-term foreign-currency deposit ratings of Ba1 and short-term foreign-currency deposit ratings of Not Prime and bank financial strength ratings ranging from C+ to D to Banco Industrial Colombiano, Banco de Bogota, Banco Popular and Bancafe. The ratings represent the sovereign ceilings for foreign currency ratings set by Moody's for Colombian banks which presently include: long- and short-term bank deposits of Ba1/Not Prime; and long-term bonds and notes of Baa3 for those institutions presently issuing such debt.
The supervision and regulation of the Colombian banking system is one of the soundest in Latin America. During the past two years the Banking Superintendency has introduced tougher regulations designed to insure the future health of the system and enhance transparency. The most important of these changes include higher provisions for riskier loans in both the commercial and consumer sectors as well as consolidation of financial statements. In addition, restrictions on a bank's foreign currency positions and minimum capitalization requirements have been introduced.
Banco Industrial Colombiano (BIC) is the sixth largest bank in Colombia and was founded in 1945. BIC's niche operations include: corporate/middle market, upper income individuals and small business clientele. The bank's major shareholder is Suramericana de Seguros, a publicly traded insurance group with holdings in cement/construction, tobacco and foods. BIC maintains a strong franchise with 75 of the largest 100 Colombian industrial companies as its customer base. It presently maintains 98 branches in 31 cities with concentrations in Medellin and Bogota. In Moody's opinion, BIC possesses very strong financial fundamentals, exceeding its larger competitors in asset quality, return on average assets, operating efficiency and reserve coverage. The bank's capitalization is the second strongest within its peer group of banks and BIC possesses strong pre-provision profitability. Compared to other Colombian banks, BIC relies the least upon guarantees from its borrowers, thus instilling a market disciplined approach to the management of its loan portfolio. BIC was the first Colombian bank to introduce an ATM network, 24 hour automated banking as well as foreign exchange services and credit and debit cards. Management has a clear and defined strategy targeted at corporate, middle market/small business and individual market. Moody's assigned a bank financial strength rating of C+ to Banco Industrial Colombiano. Banco Industrial Colombiano is headquartered in Medellin, Colombia and reported total assets of approximately $1.6 billion at December 31, 1995.
Banco de Bogota (Bogota) is the fourth largest bank in Colombia and the country's oldest bank, founded in 1870. The bank's major shareholder is the Luis Carlos Sarmiento Angulo Group which maintains extensive holdings within the Colombian financial, industrial and service sectors. Bogota maintains a full banking franchise with its loan portfolio concentrated in the commercial sector. Its lines of business include several non-banking financial subsidiaries thus functioning as a universal bank. Bogota maintains approximately 266 branches in 122 cities. In Moody's opinion, the bank possesses strong financial fundamentals. Bogota maintains the strongest capitalization in the system and intends to achieve its future growth partially by means of a reduction in its US dollar position. Its asset quality, pre-provision income, net interest margin and return on average assets are among the highest in the system. Bogota does, however, maintain one of the highest cost structures of the major, private sector banks. Management's strategy includes control of expenses while at the same time expanding its banking and financial services by utilizing its existing branch network. Moody's assigned a bank financial strength rating of C to Banco de Bogota. Banco de Bogota is headquarterted in Bogota, Colombia and reported total assets of approximately $2.2 billion at December 31, 1995.
Banco Popular (Popular) is the seventh largest bank in Colombia and was chartered in 1950 as a public sector bank. Popular presently maintains 160 branches throughout the country. The largest concentration of the bank's loan portfolio consists of public sector lending with a large portion of loans reported as pass through loans to local governments. The government received congressional approval to privatize the bank in December 1995. Popular will be sold to local and foreign investors before the end of 1996, after first offering its shares to workers. In Moody's opinion, Popular possesses weak financial fundamentals. The bank's return on average assets, pre-provision profitability and asset quality have eroded significantly during the past year. Although the bank is in full compliance with regulatory requirements, reserve coverage has deteriorated as the bank's reserves for loan losses have not been adequate enough to cover the increase in its non-performing loans. Popular's capitalization and liquidity position is nonetheless comparable to that of its stronger peers. The bank has also evidenced an improvement in its cost structure as a result of its ongoing restructuring program including significant staff reductions. Operating expenses, however, remain above average for the system. By October 1996 Popular plans to complete the overhaul of its back office operations and fully integrate its branch network. Moody's assigned a bank financial strength rating of D to Banco Popular. Banco Popular is headquartered in Cali, Colombia and reported total assets of approximately $1.4 billion at December 31, 1995.
Bancafe is the third largest bank in Colombia and was founded in 1953 as a public sector bank, designed to support Colombia's coffee industry. The bank is controlled by the National Coffee Fund with remaining ownership split between various coffee growers, distributors and exporters. Bancafe is slated for privatization, although no definite timetable has been set by the government. The bank functions as a commercialized entity with its management hired from the private sector. Bancafe's loan portfolio is concentrated in the commercial sector with 10% of the portfolio related to coffee plantation borrowers. Its franchise consists of 285 branches located throughout Colombia. In Moody's opinion, Bancafe possesses weak financial fundamentals. The bank's return on average assets and asset quality are among the lowest in the system, with its cost structure among the highest in the system. Although the bank is in full compliance with regulatory requirements, reserve coverage has deteriorated as the bank's reserves for loan losses have not been adequate enough to cover the increase in its non-performing loans. Bancafe's capitalization and liquidity position are nonetheless comparable to that of its peer group of banks. The bank also has recorded some improvement in pre-provision profitability, albeit from very low levels. Bancafe's strategy consists of an ambitious re-engineering program designed to enhance its technological capabilities and a rationalization of its operations including significant staff reductions. Moody's assigned a bank financial strength rating of D to Bancafe. Bancafe is headquartered in Bogota, Colombia and reported total assets of approximately $2.3 billion at December 31, 1995.
The following ratings were assigned:
Banco Industrial Colombiano--rating of the bank for long- and short-term foreign-currency deposits of Ba1/Not Prime; and bank financial strength rating at C+.
Banco de Bogota--rating of the bank for long- and short-term foreign-currency deposits of Ba1/Not Prime; and bank financial strength rating at C.
Banco Popular--rating of the bank for long- and short-term foreign-currency deposits of Ba1/Not Prime; and bank financial strength rating at D.
Bancafe--rating of the bank for long- and short-term foreign-currency deposits of Ba1/Not Prime; and bank financial strength rating at D.

No Related Data.
© 2022 Moody’s Corporation, Moody’s Investors Service, Inc., Moody’s Analytics, Inc. and/or their licensors and affiliates (collectively, “MOODY’S”). All rights reserved.

CREDIT RATINGS ISSUED BY MOODY'S CREDIT RATINGS AFFILIATES ARE THEIR CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES, AND MATERIALS, PRODUCTS, SERVICES AND INFORMATION PUBLISHED BY MOODY’S (COLLECTIVELY, “PUBLICATIONS”) MAY INCLUDE SUCH CURRENT OPINIONS. MOODY’S DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT OR IMPAIRMENT. SEE APPLICABLE MOODY’S RATING SYMBOLS AND DEFINITIONS PUBLICATION FOR INFORMATION ON THE TYPES OF CONTRACTUAL FINANCIAL OBLIGATIONS ADDRESSED BY MOODY’S CREDIT RATINGS. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS, NON-CREDIT ASSESSMENTS (“ASSESSMENTS”), AND OTHER OPINIONS INCLUDED IN MOODY’S PUBLICATIONS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT. MOODY’S PUBLICATIONS MAY ALSO INCLUDE QUANTITATIVE MODEL-BASED ESTIMATES OF CREDIT RISK AND RELATED OPINIONS OR COMMENTARY PUBLISHED BY MOODY’S ANALYTICS, INC. AND/OR ITS AFFILIATES. MOODY’S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS DO NOT CONSTITUTE OR PROVIDE INVESTMENT OR FINANCIAL ADVICE, AND MOODY’S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT AND DO NOT PROVIDE RECOMMENDATIONS TO PURCHASE, SELL, OR HOLD PARTICULAR SECURITIES. MOODY’S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS DO NOT COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR. MOODY’S ISSUES ITS CREDIT RATINGS, ASSESSMENTS AND OTHER OPINIONS AND PUBLISHES ITS PUBLICATIONS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL, WITH DUE CARE, MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE.

MOODY’S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY’S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER.

ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY’S PRIOR WRITTEN CONSENT.

MOODY’S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT COULD RESULT IN THEM BEING CONSIDERED A BENCHMARK.

All information contained herein is obtained by MOODY’S from sources believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well as other factors, however, all information contained herein is provided “AS IS” without warranty of any kind. MOODY'S adopts all necessary measures so that the information it uses in assigning a credit rating is of sufficient quality and from sources MOODY'S considers to be reliable including, when appropriate, independent third-party sources. However, MOODY’S is not an auditor and cannot in every instance independently verify or validate information received in the rating process or in preparing its Publications.

To the extent permitted by law, MOODY’S and its directors, officers, employees, agents, representatives, licensors and suppliers disclaim liability to any person or entity for any indirect, special, consequential, or incidental losses or damages whatsoever arising from or in connection with the information contained herein or the use of or inability to use any such information, even if MOODY’S or any of its directors, officers, employees, agents, representatives, licensors or suppliers is advised in advance of the possibility of such losses or damages, including but not limited to: (a) any loss of present or prospective profits or (b) any loss or damage arising where the relevant financial instrument is not the subject of a particular credit rating assigned by MOODY’S.

To the extent permitted by law, MOODY’S and its directors, officers, employees, agents, representatives, licensors and suppliers disclaim liability for any direct or compensatory losses or damages caused to any person or entity, including but not limited to by any negligence (but excluding fraud, willful misconduct or any other type of liability that, for the avoidance of doubt, by law cannot be excluded) on the part of, or any contingency within or beyond the control of, MOODY’S or any of its directors, officers, employees, agents, representatives, licensors or suppliers, arising from or in connection with the information contained herein or the use of or inability to use any such information.

NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY CREDIT RATING, ASSESSMENT, OTHER OPINION OR INFORMATION IS GIVEN OR MADE BY MOODY’S IN ANY FORM OR MANNER WHATSOEVER.

Moody’s Investors Service, Inc., a wholly-owned credit rating agency subsidiary of Moody’s Corporation (“MCO”), hereby discloses that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated by Moody’s Investors Service, Inc. have, prior to assignment of any credit rating, agreed to pay to Moody’s Investors Service, Inc. for credit ratings opinions and services rendered by it fees ranging from $1,000 to approximately $5,000,000. MCO and Moody’s Investors Service also maintain policies and procedures to address the independence of Moody’s Investors Service credit ratings and credit rating processes. Information regarding certain affiliations that may exist between directors of MCO and rated entities, and between entities who hold credit ratings from Moody’s Investors Service and have also publicly reported to the SEC an ownership interest in MCO of more than 5%, is posted annually at www.moodys.com under the heading “Investor Relations — Corporate Governance — Director and Shareholder Affiliation Policy.”

Additional terms for Australia only: Any publication into Australia of this document is pursuant to the Australian Financial Services License of MOODY’S affiliate, Moody’s Investors Service Pty Limited ABN 61 003 399 657AFSL 336969 and/or Moody’s Analytics Australia Pty Ltd ABN 94 105 136 972 AFSL 383569 (as applicable). This document is intended to be provided only to “wholesale clients” within the meaning of section 761G of the Corporations Act 2001. By continuing to access this document from within Australia, you represent to MOODY’S that you are, or are accessing the document as a representative of, a “wholesale client” and that neither you nor the entity you represent will directly or indirectly disseminate this document or its contents to “retail clients” within the meaning of section 761G of the Corporations Act 2001. MOODY’S credit rating is an opinion as to the creditworthiness of a debt obligation of the issuer, not on the equity securities of the issuer or any form of security that is available to retail investors.

Additional terms for Japan only: Moody's Japan K.K. (“MJKK”) is a wholly-owned credit rating agency subsidiary of Moody's Group Japan G.K., which is wholly-owned by Moody’s Overseas Holdings Inc., a wholly-owned subsidiary of MCO. Moody’s SF Japan K.K. (“MSFJ”) is a wholly-owned credit rating agency subsidiary of MJKK. MSFJ is not a Nationally Recognized Statistical Rating Organization (“NRSRO”). Therefore, credit ratings assigned by MSFJ are Non-NRSRO Credit Ratings. Non-NRSRO Credit Ratings are assigned by an entity that is not a NRSRO and, consequently, the rated obligation will not qualify for certain types of treatment under U.S. laws. MJKK and MSFJ are credit rating agencies registered with the Japan Financial Services Agency and their registration numbers are FSA Commissioner (Ratings) No. 2 and 3 respectively.

MJKK or MSFJ (as applicable) hereby disclose that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated by MJKK or MSFJ (as applicable) have, prior to assignment of any credit rating, agreed to pay to MJKK or MSFJ (as applicable) for credit ratings opinions and services rendered by it fees ranging from JPY100,000 to approximately JPY550,000,000.

MJKK and MSFJ also maintain policies and procedures to address Japanese regulatory requirements.