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Bulletin: Banco do Brasil And Banco Votorantim Ratings Unaffected By Announced Share Acquisition Jan 09
Standard & Poors, January 2009
SAO PAULO (Standard & Poor's) Jan. 9, 2009--Standard & Poor's Ratings Services said today that the announced acquisition of shares of Banco Votorantim S.A. (BB+/Stable/B) by Banco do Brasil S.A. (BdB; BBB-/Stable/A-3) will not have an immediate impact on our ratings on either institution. With the acquisition, BdB will retain 49.9% of the common shares and 50% of the total shares of Banco Votorantim. The deal aims to give to BdB a stronger presence in the auto loan market, in which Banco Votorantim is among the top three players in the country. The transaction also leverages Banco Votorantim's origination and distribution capabilities through BdB's extensive branch network. BdB's expected cash payment for the stake in Banco Votorantim will not materially...
Companies mentioned in this report are: Banco do Brasil S.A,Banco Votorantim S.A.
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 do Brasil S.A,Banco Votorantim S.A.