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Banco Votorantim S.A. Ratings Affirmed Apr 04 Product Image

Banco Votorantim S.A. Ratings Affirmed Apr 04

  • ID: 1833609
  • April 2004
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) April 1, 2004--Standard & Poor's Ratings Services said today that it affirmed its 'BB/B' local currency and 'B+/B' foreign currency credit ratings on Banco Votorantim S.A. The outlook on the local currency rating is stable, and the outlook on the foreign currency rating is positive. The ratings on Banco Votorantim S.A. benefit from the implicit support of the Votorantim Group (foreign currency, B+/Positive/--; local currency, BBB-/Stable/--); the group's strong brand-name recognition; the bank's experienced management team; and efficient decision-making processes. The ratings also consider the potential risks associated with the bank's treasury business, with its exposure to sovereign risk through its securities portfolio, a common issue for Brazilian banks; and the risks related to the...

Companies mentioned in this report are: Banco Votorantim S.A.,Votorantim Participacoes S.A.
Action: Affirmed

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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Banco Votorantim S.A.,Votorantim Participacoes S.A.

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Note: Product cover images may vary from those shown

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