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Banco do Brasil S.A. Eurobond Rated 'B+' Apr 03
Standard & Poors, April 2003
Abstract
NEW YORK (Standard & Poor's) April 30, 2003--Standard & Poor's Ratings Services said today that it assigned its 'B+' foreign currency long-term credit rating to Banco do Brasil S.A.'s Eurobond of US$75 million with a yearly coupon of 6.4%, issued on April 25, 2003, maturing on April 25, 2005. The local and foreign currency credit ratings on the bank are 'BB/Stable/-' and 'B+/Stable/-', respectively. 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 track record in supporting the bank. Offsetting these positive factors are the historically problematic asset quality, lower...
Companies mentioned in this report are: Banco do Brasil S.A
Action: New Rating
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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