Banco Votorantim S.A. Fixed-Rate Notes Rated 'B+' Aug 04
- ID: 1833564
- August 2004
- Standard & Poors
NEW YORK (Standard & Poor's) Aug. 24, 2004--Standard & Poor's Ratings Services said today that it assigned its 'B+' foreign-currency long-term credit rating to Banco Votorantim S.A. (Nassau Branch)'s $100 million fixed-rate notes (under its Euro MTN program), to be issued in the beginning of September 2004 and maturing in September 2007. The repayment of these notes will be in full at maturity. The local-currency credit ratings on the bank are 'BB/Stable/B' and the foreign-currency credit ratings are 'B+/Positive/B'. "The ratings on Banco Votorantim S.A. reflect the potential risks associated with the bank's treasury business and its exposure to sovereign risk through its securities portfolio, a common issue for Brazilian banks, and the risks associated with the economic environment in...
Companies mentioned in this report are: Banco Votorantim S.A.
Action: New Rating
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Research type: News
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