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Banco do Brasil Structured Transactions Ratings Affirmed After Japanese Regulator's Sanctions Dec 04
Standard & Poors, Dec 2004
Abstract
NEW YORK (Standard & Poor's) Dec. 17, 2004--Standard & Poor's Ratings Services today affirmed its ratings on Banco do Brasil's structured transactions backed by financial remittances (see list). The affirmations follow sanctions enforced by the Japanese Financial Service Agency (FSA) on Banco do Brasil's branch operations in Japan. The sanction prevents Banco do Brasil from engaging in remittance and exchange operations with new companies for one year. Standard & Poor's rates structured finance transactions issued by Banco do Brasil and has determined that the FSA's actions have no effect on the rating of the structured transactions for the following reasons: -- The sanctions apply only to remittances from corporations that are not existing customers of Banco do Brasil; -- The...
Companies mentioned in this report are: Banco do Brasil S.A,Dollar Diversified Payment Rights Finance Company (Banco do Brasil )
Action: Affirmed
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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