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Banco Nossa Caixa S.A. Mar 09
Standard & Poors, March 2009
Abstract
Strong franchise and geographic presence in the Brazilian state of S-o Paulo Access to low-cost and stable funding Strong liquidity position Position as financial agent for the State of S-o Paulo Loose credit process and lower asset quality than peers Weak efficiency compared with the industry Dependence on tax credits for profitability The ratings on Banco Nossa Caixa S.A. reflect the intrinsic stand-alone credit quality of the bank because we understand that the transfer of ownership to Banco do Brasil S.A. (BdB; foreign currency BBB-/Stable/A-3, local currency BBB-/Stable/--) is very likely to occur in the coming weeks or few months. Therefore, the ratings do not incorporate any support or constraint from the bank's current ownership by the Brazilian state of...
Companies mentioned in this report are: Banco Nossa Caixa S.A.,Banco do Brasil S.A
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.
Research Type: Full Analysis
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