MEDELLIN, Colombia, Feb. 2 /PRNewswire-FirstCall/ -- Fitch Ratings, the international ratings agency, has today affirmed Bancolombia's long-term and short-term foreign currency Issuer Default Ratings (IDRs) as follows:
Foreign Currency long-term IDR at "BB+"
Foreign Currency short-term rating at "B"
Support rating at "3"
The Rating Outlook is Stable
The Following ratings remain on Rating Watch Negative:
Individual rating of "C"
Local currency long-term IDR of "BBB-"
Local currency short-term rating of "F3"
These ratings were placed in Rating Watch Negative by Fitch Ratings following Bancolombia's announcement of the agreement to acquire a controlling interest of "Conglomerado Financiero Internacional Banagricola S.A.", through its subsidiary Bancolombia Panama S.A.
