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The rating carries a positive outlook, the agency said in a report.
The rating is in line with Bancolombia's global local currency deposit rating of Baa2, and constrained by Colombia's country ceiling for its foreign currency debt (rated Baa3), the report reads.
Medellín-based Bancolombia is the country's largest bank. It had 71.2tn pesos (US$39bn) in assets and 45.5tn pesos in deposits as of March 31.
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