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Banco Votorantim S.A. Medium-Term Notes Rated 'BB-' Dec 05
Standard & Poors, Dec 2005
Abstract
SAO PAULO (Standard & Poor's) Dec. 20, 2005--Standard & Poor's Ratings Services said today that it assigned its 'BB-' senior unsecured debt rating to Banco Votorantim S.A.'s MTN of approximately $44 million (Brazilian reais [BrR] 100 million). The notes will be issued on Dec. 20, 2005, and mature in 2012. Even though the transaction notional amount and the interest rate are calculated based on the nominal amount converted in Brazilian reais, this is an international issue and the payment of interest and principal will be done offshore in hard currency, and therefore the issue was assigned the same foreign-currency rating as that on the bank. 'The counterparty credit ratings on Banco Votorantim S.A. incorporate the potential risks associated with the...
Companies mentioned in this report are: Banco Votorantim S.A.
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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