S&P cuts Daycoval outlook to stable

Standard & Poor's said it revised the outlook on Banco Daycoval SA to stable from positive.

At the same time, it affirmed the ratings, including the BB- long-term and B short-term counterparty credit ratings, on the bank.

The action was part of a revision of outlooks and affirmation of the ratings on both Daycoval and another Brazilian bank, Banco Indusval SA (foreign currency: B+/stable/B), S&P said, adding that the revised outlooks on the two banks incorporate the more challenging operating environment for financial institutions in Brazil as a consequence of the turmoil in the global financial markets.

© 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.