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Banco Safra S.A. Dec 11
Standard & Poors, Dec 2011
Abstract
Healthy asset quality; and Strong liquidity. Relatively concentrated funding base; and High competitive pressures from larger banks. Standard & Poor's bases its ratings on Safra's 'adequate' (as our criteria define it) business position, capital and earnings, risk position, 'below-average' funding, and 'strong' liquidity. Our bank criteria use our Banking Industry Country Risk ssessment (BICRA) economic and industry risk scores to determine a bank's anchor, the starting point in assigning an issuer credit rating. Our anchor for a commercial bank operating only in Brazil is 'bbb'. Our economic risk assessment reflects our opinion that economic improvements and cautious fiscal and monetary policies have added to the flexibility the Brazilian economic authorities have to manage significant external shocks and potential distortions from...
Companies mentioned in this report are: Banco Safra 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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