Fitch rates Bradesco notes BB

Fitch Ratings said it assigned an expected BB long-term rating to Banco Bradesco SA's planned senior unsecured notes to be sold through its Grand Cayman branch. The size and the maturity of the issuance is yet to be determined upon book building.

“The expected rating on the notes corresponds to Bradesco's long-term foreign-currency issuer default rating (IDR; BB/negative), as the likelihood of these senior obligations' default is the same as for the issuer and ranks equal to its other senior unsecured debt,” Fitch said in a press release.

The bonds' proceeds will be used for the financing and/or refinancing of existing or future social and sustainable projects.

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