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Brazil Turbulence Heightens Ratings Pressure On Some Global Banks Aug 02
Standard & Poors, Aug 2002
Abstract
(Editor's note: In this article published Aug. 27, the rating on Credit Agricole S.A. was misstated. A corrected version follows.) Although Standard & Poor's believes that, in general, the exposure of European and U.S. banks to Brazil is manageable, and therefore does not anticipate massive rating actions and outlook changes across this group of banks at present, there are some institutions that are visibly vulnerable to developments in Brazil, and for which Brazil's turbulence adds negative rating pressure. Our current ratings and outlooks on global banks with significant exposure to Brazil are based on a risk scenario consistent with the Federative Republic of Brazil's current ratings, and, therefore, do not implicitly assume a worst case scenario. With Brazil's long-term foreign...
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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