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Banco Bradesco S.A. Senior Unsecured Fixed- And Floating-Rate Notes Rated 'BBB'
Standard & Poors, May 2011
Abstract
SAO PAULO (Standard & Poor's) May 11, 2011--Standard & Poor's Ratings Services said today that it assigned its 'BBB' senior unsecured debt rating to Banco Bradesco S.A.'s $500 million, five-year fixed-rate senior unsecured notes and $850 million three-year floating rate senior unsecured notes. The rating on the new notes is the same as our long-term counterparty credit rating on Bradesco (BBB/Stable/A-3), reflecting our view that the notes will rank on par with other senior unsecured debt and that they will be direct, unsecured, unsubordinated, and unconditional obligations of the bank. The bank expects to use the proceeds for general corporate purposes. Our rating on Bradesco is one notch higher than our foreign-currency sovereign credit rating on Brazil because of the...
Companies mentioned in this report are: Banco Bradesco S.A.,Brazil (Federative Republic of)
Action: New Rating
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.
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