S&P rates Cruzeiro do Sul BB-/B

Standard & Poor's said it assigned its BB-/B counterparty credit rating to Banco Cruzeiro do Sul SA.

The outlook is stable.

The agency said it also assigned a 'brA-/brA-2 national-scale rating with a stable outlook.

"The rating on Cruzeiro do Sul reflects the bank's concentration in one type of product and its volatile profitability," said credit analyst Delfina Cavanagh.

The bank has business sensitivity to high competition and market conditions, the agency noted, adding that the ratings also take into account the bank's challenge to increase and diversify its funding and capital base to sustain its credit expansion.

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