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Moody’s sees possible downgrade for Banco de Bogotá in wake of BAC deal

Thursday, September 2, 2010

Moody's Investors Service reviewed the ratings of Banco de Bogotá with a view to a downgrade, following the bank’s acquisition of BAC Credomatic from GE Capital.

The acquisition of BAC Credomatic is of considerable size and represents half of Banco de Bogotá’s assets, Moody’s said.

The transaction would expose the bank to greater risks in the consumer segment and within several Central American markets, the ratings agency said.

Original source (in Spanish): Efe