Fitch Ratings affirms SURA Asset Management S.A. at BBB+ and outlook stable
The degree of investment was affirmed by the rating agency to the number one company of pensions in Latin America, which has a total of USD 103.1 billion in managed assets, belonging to 17.3 million customers. Tuesday, March 29th 2016- Fitch Ratings ratifies SURA Asset Management S.A. a rating of BBB + (investment grade) long-term local and foreign currency, after analyzing the financial position of the company and the performance of its investments. In addition, the rating firm said the outlook is stable, also confirmed the classification for secured bonds SUAM Finance BV BBB +. According to the analysis by Fitch, the rating of SURA Asset Management reflects its strong credit profile based on its leading regional franchise, consistent performance, a strong operating environment, stable earnings, diversification, solid leverage and appropriate ratios of services debt, its extensive experience and solid risk management. In this context, the credit profile SURA Asset Management, the agency is strong enough to ensure one of the highest ratings in Colombia; even higher than those of the country as it benefits from a flow of relatively strong, stable and growth from other areas where it operates and have a higher top income country. "This ranking confirms our leadership in pensions in the region, because in an environment of volatility and some signs of weakening regional economies have maintained a strong performance, which undoubtedly is due to the stability of the core business and continued voluntary business growth" said Vice President of Corporate Finance SURA Asset Management, Andrés Bernal . To know in detail thestatement Fitch Rating. About SURA Asset Management SURA Asset Management is a Latin American company with operations in the areas of pensions, savings and investment in Mexico, Peru, Chile, Colombia, Uruguay and El Salvador. It is a subsidiary of Grupo SURA and five shareholders who own a minority stake: the International Finance Corporation (IFC), member of the World Bank Group; Bolivar Group, Bancolombia, the International Investment Fund General Atlantic, and the Wiese Group. As of September 2015, SURA Asset Management has a total of US$ 103.1 billion in AUM, owned by 17.3 million customers. * Customers and AUM include AFP Protección in Colombia and AFP Crecer in El Salvador, despite not being controlled companies, SURA AM owns a relevant stake.