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Banco Votorantim S.A. Mar 03
Standard & Poors, March 2003
Abstract
The ratings on Banco Votorantim S.A. benefit from the implicit support of the Votorantim Group (local currency, BBB-/Negative/-; foreign currency, B+/Negative/-); the group's strong brand-name recognition; the bank's experienced management team; and efficient decision-making processes. In addition, Banco Votorantim shows better-than-average asset quality. The ratings also consider the potential risks associated with the bank's treasury business, with its considerable exposure to sovereign risk through its securities portfolio, a common issue for Brazilian banks; a relatively short operating track record on its consumer finance business; and the risks related to the economic environment in Brazil. The Votorantim Group is one of the largest and most influential industrial conglomerates in Brazil. Its brand-name recognition has helped the bank to leverage on its...
Companies mentioned in this report are: Banco Votorantim S.A.,Votorantim Participacoes S.A.
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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