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S&P Reviews Ratings of Various Latin American Banks Jan 99
Standard & Poors, January 1999
(Editor's note: This details the specific rating actions outlined in Standard & Poor's prior press release on Latin American banks.) NY -- Standard & Poor's CreditWire 1/14/1999 -- Standard & Poor's today lowered its ratings on a number of Latin American banks and placed a number of others on CreditWatch with negative implications due to Brazil's sudden decision to widen the band in which its currency fluctuates, effectively devaluing the real. The timing of the currency adjustment, amidst already shaky investor confidence, will exacerbate the pressures faced by Brazilian and other Latin American banks. Brazilian banks will be hardest hit, with the devaluation likely to lead to an increase in loan problems, particularly on loans to customers borrowing in dollars....
Action: S&P Event
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
- Brazil (Federative Republic of)
- Chile (Republic of)
- Banco Real S.A.
- Banco Nacional de Mexico S.A.
- Argentina (Republic of) (Unsolicited Ratings)
- Banco de Galicia y Buenos Aires S.A.
- Banco Rio de la Plata S.A.
- Banco Latinoamericano de Comercio Exterior S.A.
- Uruguay (Oriental Republic of)
- Banco del Estado de Chile
- BBVA Bancomer S.A.
- Banco Santander-Chile
- HSBC Bank Argentina S.A.
- BBVA Banco Frances S.A.
- Banco de Chile
- Banco Safra S.A.
- Banco Bradesco S.A.
- Unibanco-Uniao de Bancos Brasileiros, S.A.
- Banco Citibank S.A.
- Banco de la Provincia de Buenos Aires S.A.
- Banco Hipotecario S.A.
- Scotiabank Sudamericano
- Scotiabank Quilmes S.A.
- Banco Santander-Chile S.A.
- Banco Comercial S.A.
- Itau Unibanco Holding S.A.
- HSBC Bank Brasil S.A.