S&P: Banco ABC notes BBB-

Standard & Poor's said it assigned a BBB- rating to Banco ABC Brasil SA's proposed three-year fixed-rate senior unsecured notes issuance.

The rating on the new notes is the same as the long-term issuer credit rating on the bank, reflecting that the notes will rank pari passu with other senior unsecured debt and will be the bank's direct, unsecured, unsubordinated and unconditional obligations.

The proceeds will be used for general corporate purposes.

The ratings reflect the bank's strong risk position, adequate liquidity and adequate capital and earnings, S&P said.

These positives are partially offset by its moderate business position and below average funding, the agency said.

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