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Banco Votorantim S.A. Notes Rated 'BB'; Rating Affirmed Sep 06
Standard & Poors, Sep 2006
Abstract
SAO PAULO (Standard & Poor's) Sept. 13, 2006--Standard & Poor's Ratings Services said today that it assigned its 'BB' senior unsecured debt rating to Banco Votorantim S.A.'s $200 million notes to be issued in September 2006 and maturing in 2016. At the same time, Standard & Poor's affirmed its 'BB' long-term counterparty credit rating on the bank. The outlook is stable. 'The counterparty credit rating on Banco Votorantim incorporate the potential risks associated with the bank's treasury business; its exposure to sovereign risk through its government securities portfolio, a common issue for Brazilian banks; and the risks associated with the volatile economic environment in Brazil that might cause asset quality deterioration following strong expansion of the loan portfolio,' said Standard...
Companies mentioned in this report are: Banco Votorantim S.A.
Action: Affirmed
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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