Short-Term Ratings On Eight Brazilian Financial Institutions Raised To 'A-2' From 'A-3' On Similar Action On Sovereign Jul 12
Standard & Poors, July 2012
Abstract
SAO PAULO (Standard & Poor's) July 10, 2012--Standard & Poor's Ratings Services raised its short-term ratings on the following Brazilian financial institutions to 'A-2' from 'A-3': Banco Bradesco S.A.; Banco Citibank S.A.; Banco do Brasil S.A. (BdB); Banco do Nordeste do Brasil S.A.(BNB); Banco Santander (Brasil) S.A.; HSBC Bank Brasil S.A.; Itau Unibanco Holding S.A.; and Banco Itau BBA S.A. All other ratings and outlooks remain unchanged. The change does not reflect an improvement in our view of these banks' short-term creditworthiness. The rating action on these entities, which include six private universal banks and two government-related entities, mirrors the same rating action we took on the short-term foreign currency rating on Brazil (see "Brazil Short-Term Foreign Currency Rating Raised...
Companies mentioned in this report are:
- Banco Bradesco S.A.
- Brazil (Federative Republic of)
- Banco Citibank S.A.
- Itau Unibanco Holding S.A.
- Banco do Nordeste do Brasil S.A.
- HSBC Bank Brasil S.A.
- Banco Itau BBA S.A.
- Banco do Brasil S.A
- Banco Santander (Brasil) S.A.
Action: Upgraded
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.
- Banco Bradesco S.A.
- Brazil (Federative Republic of)
- Banco Citibank S.A.
- Itau Unibanco Holding S.A.
- Banco do Nordeste do Brasil S.A.
- HSBC Bank Brasil S.A.
- Banco Itau BBA S.A.
- Banco do Brasil S.A
- Banco Santander (Brasil) S.A.
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