Summary: Banco do Brasil S.A Oct 03

Standard & Poors, October 2003

Abstract
The ratings on Banco do Brasil S.A. reflect the bank's public-sector policy and increasing competitiveness in private-sector-related operations, its strong franchise, and its extensive branch network. In addition, the ratings consider the Brazilian government's firm commitment to and demonstrated support of the bank. Offsetting these positive factors are the still-short track record in asset quality following major improvements in recent years, the weak quality of the bank's capital base, and Standard & Poor's Ratings Services' assessment of the high economic risk of the Brazilian financial system, including the bank's direct exposure to government risk in the form of marketable securities. The Brazilian government's firm commitment to Banco do Brasil and its demonstrated support in recent years are major factors in...

Companies mentioned in this report are:
- Banco do Brasil S.A
- Brazil (Federative Republic of)

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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Banco do Brasil S.A
- Brazil (Federative Republic of)

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