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Banco Votorantim S.A. Apr 04
Standard & Poors, April 2004
Abstract
Implicit support from the Votorantim Group Strong brand-name recognition Experienced management team, efficient decision-making processes Good profitability Potential risks associated with the bank's treasury business Exposure to sovereign risk through its securities portfolio Risks related to the economic environment in Brazil Standard & Poor's Ratings Services affirmed its 'BB/Stable/B' local currency and 'B+/Positive/B' foreign currency credit ratings on Banco Votorantim S.A. on April 1, 2004. 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, efficient decision-making processes, and good profitability. The ratings also consider the potential risks associated with the bank's treasury business, with its exposure to sovereign...
Companies mentioned in this report are: Banco Votorantim S.A.,Votorantim Participacoes S.A.,St. Marys Cement Inc.
Action: Review
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: Full Analysis
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