Our ratings on Seguros Generales Suramericana continue to reflect its core group status to the Colombia-based insurance group Suramericana S.A, which still retains a 'bbb-' group credit profile (GCP) after sovereign constraint considerations. The Suramericana group's GCP benefits from a strong competitive position thanks to its solid operating performance in line with those of international peers, diversified sources of income, and positive brand recognition in the Colombian market. Adequate capitalization levels also support the group credit profile. We've assigned a stand-alone credit profile (SACP) of 'bbb-' to Seguros Generales Suramericana, reflecting its positive brand recognition, good profitability, and reasonable capital adequacy. We're affirming our 'BBB-' financial strength and issuer credit ratings on Seguros Generales Suramericana. We're also affirming our 'BBB-'
