Banco Patagonia 'B' Counterparty Credit Rating Affirmed; Outlook Remains Stable Jun 11

Standard & Poors, June 2011

Abstract
In April, Banco do Brasil S.A. took control of Banco Patagonia. We expect Banco Patagonia to maintain healthy asset quality and above-average profitability, with ROAA between 2.5% and 3.5%, as well good liquidity and moderate capitalization. We are affirming our 'B' rating on Banco Patagonia S.A. The stable outlook on Banco Patagonia reflects that on Argentina. BUENOS AIRES (Standard & Poor's) June 15, 2011--Standard & Poor's Ratings Services said today that it affirmed its 'B' counterparty credit rating on Banco Patagonia S.A. The outlook remains stable. Our ratings on Banco Patagonia primarily reflect the risk inherent in operating in Argentina, and the ratings on the Republic of Argentina (B/Stable/B) constrain the ratings on the bank. The bank is challenged to...

Companies mentioned in this report are:
- Banco Patagonia S.A.
- Argentina (Republic of) (Unsolicited Ratings)
- Banco do Brasil S.A

Action: Affirmed
Action: Outlook: Stable

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.

- Banco Patagonia S.A.
- Argentina (Republic of) (Unsolicited Ratings)
- Banco do Brasil S.A

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