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Banco Votorantim S.A. Rating Affirmed At 'BB+/B'; Outlook Stable May 09 Product Image

Banco Votorantim S.A. Rating Affirmed At 'BB+/B'; Outlook Stable May 09

  • Published: May 2009
  • Standard & Poors

Abstract
-- The bank's partnership with Banco do Brasil supports the current rating. -- We affirmed our global and national scale ratings on Banco Votorantim S.A. -- We expect the bank to be able to sustain its positive financial measures. SAO PAULO (Standard & Poor's) May 11, 2009--Standard & Poor's Ratings Services said today that it affirmed its 'BB+/B' global scale counterparty credit rating and its 'brAA+/brA-1' Brazil national scale rating on Banco Votorantim S.A. The ratings on Banco Votorantim S.A. incorporate the challenges it faces in the very competitive, lower margin wholesale banking segment, and possible deterioration in the asset quality of its auto loan portfolio in a more negative economic environment. This follows a long period of healthy growth....

Companies mentioned in this report are: Banco Votorantim S.A.,Banco do Brasil S.A
Action: Affirmed
Action: Outlook: Stable

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 READ MORE >

Banco Votorantim S.A.,Banco do Brasil S.A

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