 Moodys Investors Service Moodys has today assigned a Ba2 foreign currency backed debt rating to the proposed USD-denominated senior unsecured notes to be issued by Grupo Aval Limited, the Cayman Islands subsidiary of Grupo Aval Acciones y Valores S.A. Grupo Aval, with maturities of up to ten years. The backed debt is irrevocably and unconditionally guaranteed by Grupo Aval. The outlook on the backed debt issuance is negative. 