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BES Investimento do Brasil Ratings Placed On CreditWatch Negative Feb 11
Standard & Poors, Feb 2011
Abstract
We are placing our 'BBB-' long-term and 'A-3' short-term global scale credit ratings and 'brAAA' long-term and 'brA-1' short-term national scale credit ratings on BESI Brasil on CreditWatch with negative implications. This action follows our placement of our ratings on BESI Brasil's parent companies on CreditWatch on Dec. 3, 2010, with negative implications, which followed the same action on the Republic of Portugal. The negative implications reflect the potential for a Portugal sovereign downgrade and the consequent impact on BESI Brasil parents' creditworthiness. SAO PAULO (Standard & Poor's) Feb. 17, 2011--Standard & Poor's Ratings Services said today that it placed its global scale 'BBB-' long-term and 'A-3' short-term, and 'brAAA' long-term and 'brA-1' short-term national scale credit ratings on BES...
Companies mentioned in this report are: BES Investimento do Brasil,Portugal (Republic of),Banco Espirito Santo S.A.,Banco Espirito Santo de Investimento S.A.
Action: On CreditWatch:Negative
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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