S&P lifts Banco BTG Pactual

S&P said it raised the long-term global scale issuer credit rating on Banco BTG Pactual SA to BB- from B+ and its national scale credit ICRs to brA-/brA-2 from brBBB-/brA-3.

The agency also said it affirmed the bank’s B global scale short-term rating.

S&P also said it removed all of the ratings from CreditWatch negative.

The outlook is negative.

The upgrades follow a reassessment of the bank’s liquidity position to moderate from weak, the agency said.

The bank’s liquidity has been monitored since the arrest of the bank's former chief executive officer and chairman, S&P said.

The agency said it believes the bank has diminished pressure on its liquidity since the arrest and is in a sound position to meet its short-term obligations.

The ratings also consider the bank's adequate business position, which stems from its status as the leading investment bank in Brazil with a relatively diversified revenue profile, adequate capital and moderate risk position, the agency said.

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