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Research Update: Banco do Brasil Ratings Raised To BBB/A-3 From 'BBB-/A-3', Outlook Stable, On Sovereign Upgrade Nov 11 Product Image

Research Update: Banco do Brasil Ratings Raised To BBB/A-3 From 'BBB-/A-3', Outlook Stable, On Sovereign Upgrade Nov 11

  • ID: 2025847
  • November 2011
  • Region: Brazil
  • Standard & Poors

Abstract
Earlier today, we raised the foreign currency sovereign credit rating to 'BBB/A-3' from 'BBB-/A-3' and local currency sovereign rating to 'A-/A-2' from 'BBB+/A-3' on Brazil. We are raising our global scale ratings on Banco do Brasil S.A. to 'BBB/A-3' from 'BBB-/A-3'.At the same time, we affirmed our 'brAAA' national scale counterparty credit ratings on its core subsidiary, Ativos S.A. Securitizadora de Creditos Financeiros. The upgrade of the bank reflects our belief that it has a very high likelihood of receiving extraordinary governmental support in case of need. On Nov. 17, 2011, Standard & Poor's Ratings Services raised the global scale ratings on Banco do Brasil S.A. (BdB) to 'BBB/A-3' from 'BBB-/A-3'. The outlook is stable. The rating action on BdB...

Companies mentioned in this report are:
- Banco do Brasil S.A
- Ativos S.A. Securitizadora de Creditos Financeiros

Action: Outlook: Stable
Action: Upgraded

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 READ MORE >

- Banco do Brasil S.A
- Ativos S.A. Securitizadora de Creditos Financeiros

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