Resumen Semanal - Acciones de Calificación

Fitch Argentina: Acciones de Calificación Resumen Semanal de acciones de calificación del 2 al 6 de noviembre de 2009 A continuación, Fitch Ratings' Latin America Weekly Recap (o resumen semanal de calificaciones de Latinoamérica) de esta semana. Para información adicional, comunicados de prensa o informes, Ud. puede consultar nuestra página web Fitch Argentina www.fitchratings.com.ar o www.fitchratings.com > Global bank systemic risk still high but showing signs of stabilization - Featured Reports: Bank Systemic Risk Report The level of risk described by Fitch's Macro-Prudential Indicator (MPI) and Banking System Indicator (BSI) remains high as the credit/GDP ratio in general shows little signs of contracting, despite a slowdown in credit growth to 2.5% in 2009 from 15% in 2008. Indeed, in some crisis countries such as Iceland and Ireland, the ratio is still rising sharply due to a decline in GDP. Over one-third of the 86 countries included in this report remain in the MPI 3 ("high vulnerability to potential systemic stress") category, with Emerging Europe (EE) showing the largest proportion of MPI 3s (63%), followed by developed countries (43%) and the Middle East & Africa (MEA) with 29%. Latin America and Asia have the lowest proportion of MPI 3s at 14% and 8%, respectively. Although China is expected to show the fastest real credit growth anywhere this year (23%) and one of the biggest increases in credit to GDP, it has yet to trigger even moderate signs of macro-prudential risk. Meanwhile, the typical BSI (which measures system quality/strength on a scale from A to E) for emerging markets (EM) is either BSI C or BSI D, with Chile being the closest to BSI B. Among the weakest EM systems, the ones closest to graduating to BSI D are Azerbaijan, Belarus, Estonia and Lithuania. Asia and MEA have the strongest profiles with around half their systems BSI C, followed by Latin America with a slightly higher proportion of BSI D and BSI E systems. > Other Special Reports/Comments: - Steel Companies in Brazil and Russia: Why the Rating Divergence? Indian Ratings Monthly - November 2009 Dominican Insurance Industry: Review and Outlook Asian Lessons from the Global Economic Crisis Macroeconomic and Sovereign Outlook: Key Risks for Ukraine's Economy Fitch Releases October Summary of Latin American Rating Actions Fitch Places Turkish Banks on Rating Watch Positive Fitch Ratings to Host Annual Global Structured Finance Conference in Seoul > Rating Actions - Argentina Fitch confirmo la calificacion del FF Municipalidad Rio Cuarto Fitch confirmo calificacion de bonos de la Provincia de Formosa Fitch retiro las calificaciones del FF Confibono Titulos I Fitch confirma calificaciones a Best Consumer Finance Serie IX Fitch confirmo las ONs de Central Termica Loma de la Lata S.A. Fitch Argentina confirma en A(arg) la calificacion de Cresud Fitch Affirms Tarjeta Naranja's IDR at 'B-' Fitch confirma las calificac de los fideicomisos CFA V; VI y VII Fitch confirma la Calificacion de CNP Fitch retira la calificacion de los VDF Clase B de CFA V Fitch retiro la calificacion de los CP de Lucaioli I Fitch confirma la calificacion de Galicia Seguros Fitch retira calif de los VDF y de los CP de CMR Falabella XVI Fitch confirma la calificacion de Berkley Seguros Fitch retiro la calificacion de los CP de Ribeiro XXIII Fitch confirmo la calificacion a Equity Trust (Company) Arg S.A. Fitch califica a las ONs Serie 1 de Forestal Oriental S.A. Fitch confirma la calif de Compania Arg de Seguros Victoria Fitch asigna AA-(arg) a las ONs a emitir por APSA Fitch confirma en AA-(arg) a las ONs de IRSA Fitch confirma calificacion a HSBC Bank Argentina S.A. - Bolivia Fitch Ratings Asigna en D a la Calificacion de Riesgo de los Bonos Hidroelectrica Boliviana S.A. - Brazil Fitch Affirms Banco do Brasil S.A.'s Ratings Fitch Atribui Rating Preliminar 'BBB(bra)' a Emissao de Debentures da OAS Empreedimentos Fitch Rates Vale's Proposed Sr. Unsecured Bond 'BBB'; Outlook Stable Fitch Affirms Sul America S.A's International and National Ratings - Chile Fitch Ratifica Clasificacion de las Acciones de Ventanas Fitch Ratifica la Clasificacion de Banchile Vida Fitch Ratifica Clasificacion de las Acciones de Fepasa Fitch Upgrades D&S's Guaranteed Local Debt; IDRs Remain on Watch Evolving Ante Fusion con Scotiabank Chile, Fitch Ratifica y Retira Clasificaciones de Banco del Desarrollo Fitch Ratifica Clasificacion Accionaria de Laboratorios Andromaco Fitch Ratifica Clasificaciones de Clinica Las Condes Fitch Ratifica Clasificacion de Acciones de Edelmag en Primera Clase Nivel 4(cl) Fitch Baja Clasificacion de Series C y D del PS-13 de Banchile Securitizadora Fitch Baja Clasificacion de Series C y D del PS-13 de Banchile Securitizadora Fitch Ratifica en AAA(cl) Clasificaciones en Escala Nacional de Banco Santander Chile - Costa Rica Fitch Afirma Calificacion a CNFL - Dominican Republic Fitch Publica Reporte Especial sobre el Sector Microfinanciero de la Republica Dominicana - Guatemala Fitch reduce calificaciones a Banco de Los Trabajadores Fitch asigna calificaciones a Credomatic de Guatemala, S.A. - Mexico Fitch modifica la perspectiva crediticia a "estable" del Municipio de Solidaridad, QR Fitch Rates Telmex US$500MM Notes Due 2019 'A-' Fitch califica en 'BB(mex)' a Caja Popular La Providencia Fitch asigno calificacion AAA(mex) a la cuarta emision de CEDEVIS del 2009 por parte del INFONAVIT Fitch asigna calificacion de AA(mex) a un credito de $5,000 mdp contratado por el Fideicomiso 709 Fitch ratifica las calificaciones del Estado de Chihuahua, la perspectiva crediticia es estable Fitch ratifica la calificacion de BB+(mex) del municipio de Benito Juarez, Quintana Roo