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Bulletin: Votorantim Participa??es Ratings Are Not Affected By Sale Of A Stake In Banco Votorantim Jan 09
Standard & Poors, Jan 2009
Abstract
SAO PAULO (Standard & Poor's) Jan. 9, 2009--Standard & Poor's Ratings Services said today that the ratings on Votorantim Participa--es S.A. (VPar; BBB/Stable/--) are not immediately affected by the announcement that VPar will sell a stake in Banco Votorantim S.A. (BB+/Stable/B) to Banco do Brasil S.A. (BBB-/Stable/A-3, foreign currency). With the sale, Banco do Brasil will own 49.9% of the voting shares and 50% of the total shares of Banco Votorantim. The transaction leverages Banco Votorantim's origination and distribution capabilities by allowing it to benefit from Banco do Brasil's extensive branch network. In addition to bringing some additional liquidity to VPar's cash reserves, the transaction reduces the group's direct exposure to the financial services business, which we view as more...
Companies mentioned in this report are: Votorantim Participacoes S.A.,Banco Votorantim S.A.,Banco do Brasil S.A
Action: Bulletin
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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