Research Update: S&PCORRECT: Banco BMG S.A. 'BB-/B' Global Scale Ratings Affirmed On Revised Bank Criteria; Outlook Stable Dec 11
Standard & Poors, December 2011
Abstract
Following our review of Banco BMG under Standard & Poor's revised bank criteria (published on Nov. 9, 2011), we are affirming our global scale issuer credit ratings on the bank at 'BB-/B' and our national scale issuer credit rating at 'brA-/--'. The outlook on both scales is stable. Our ratings on Banco BMG reflect its weak business position, adequate capital and earnings, moderate risk position, below average funding, and adequate liquidity. We expect Banco BMG to maintain its focus on its core business--payroll discount lending--and sustain adequate capital even after the incorporation of Banco Schahin. As we previously announced, on Dec. 13, 2011, Standard & Poor's Ratings Services affirmed its global scale issuer credit ratings on Banco BMG S.A. at...
Companies mentioned in this report are: Banco BMG S.A.
Action: Affirmed
Action: Outlook: Stable
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
Banco BMG S.A.
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