Fitch gives BTG Pactual notes BB-

Fitch Ratings said it assigned an expected long-term BB- rating to Banco BTG Pactual SA’s benchmark-size senior unsecured notes due 2026.

The notes will be sold through BTG Pactual SA (Cayman Branch) under the parent bank’s $5 billion medium-term note program.

“The foreign currency senior unsecured debt rating derives from Banco BTG Pactual SA's Ba2 global local-currency deposit rating, which, in turn, reflects the bank's baseline credit assessment (BCA) of ba2. The rating does not benefit from any uplift from systemic support considerations because of the bank's modest share of the deposits market in Brazil,” Fitch said in a press release.

The bank plans to use an amount equal to the net proceeds for the financing and/or refinancing of new and existing green projects.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.