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Banco do Brasil 'BBB-' Credit Rating Affirmed; Outlook Stable Apr 11
Standard & Poors, April 2011
Banco do Brasil has demonstrated adequate financial performance despite challenging operating conditions over the past four years. We are affirming our ratings on the bank. We believe Banco do Brasil's financial performance will improve because of recent acquisitions and partnership agreements. SAO PAULO (Standard & Poor's) April 5, 2011--Standard & Poor's Ratings Services said today that it affirmed its BBB-/A-3 foreign currency global scale on Banco do Brasil S.A. (BdB). At the same time, we affirmed the 'BBB-' local currency rating on the bank. The outlooks are stable. "Our rating on BdB incorporates the bank's ownership by the Federative Republic of Brazil (FC: BBB-/Stable/A-3; LC: BBB+/Stable/A-2)," said Standard & Poor's credit analyst Suzane Iamamoto. The controlling shareholder has historically demonstrated...
Companies mentioned in this report are: Banco do Brasil S.A
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
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Banco do Brasil S.A