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Banco Bradesco S.A.?s Senior Unsecured Notes Assigned ?BBB? Jan 12
Standard & Poors, Jan 2012
Abstract
SAO PAULO (Standard & Poor's) Jan. 5, 2012--Standard & Poor's Ratings Services assigned its 'BBB' rating to Banco Bradesco S.A.'s fixed-rate senior unsecured notes of minimum amount of US$ 500 million. The 'BBB' rating on the notes is the same as our long-term issuer credit rating on Bradesco (BBB/Stable/A-3), reflecting our view that the notes will rank on par with the bank's other senior unsecured debt. We also believe that these notes will be direct, unsecured, unsubordinated, and unconditional obligations of the bank, which expects to use the proceeds for general corporate purposes. Standard & Poor's bases its ratings on Bradesco on its 'very strong' business position, 'moderate' capital and earnings, 'adequate' risk position, 'average' funding, and 'adequate' liquidity (as...
Companies mentioned in this report are: Banco Bradesco 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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