Fitch affirms Banco BMC

Fitch Ratings said it affirmed Banco BMC SA's national ratings at long-term BBB-(bra) and short-term F3(bra).

The agency noted the company's other ratings are local and foreign currency issuer default B-, short-term B, individual D/E and support 5.

The outlooks for all the issuer default and long-term national ratings are stable.

Fitch said the ratings reflect BMC's successful strategy and focus on the securitization of credits, the latter of which has seen strong demand from large banks and allowed improvements in BMC's performance and liquidity.

On the other hand, the agency added they reflect BMC's increasing leverage and its small size, making it more susceptible to the volatile environment in Brazil.

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