Moody's rates Banco Cruzeiro notes Ba2

Moody's Investors Service said it assigned a Ba2 foreign-currency debt rating to the senior notes due April 2014 to be issued by Banco Cruzeiro do Sul SA.

The outlook is negative.

The foreign-currency senior debt rating is based on the bank's Ba2 issuer rating, the agency said. The bond rating is not constrained by the country ceiling for foreign-currency bonds and notes for Brazil.

The proposed notes are being issued under the existing $1 billion global short-term note program rated Ba2, the agency added.

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