Moody's rates Daycoval notes Baa3

Moody's Investors Service said it assigned provisional Baa3 long-term foreign currency debt ratings to the existing $2 billion euro medium-term note program of Banco Daycoval SA.

At the same time, the agency assigned a Baa3 foreign currency senior unsecured debt rating to the 5 7/8% five-year senior unsecured notes issued in the amount of $500 million by Banco Daycoval. The notes were issued under the program and are due March 2019.

The outlook is stable.

Moody's said the the Baa3 foreign currency debt rating derives from Daycoval's Baa3 global local currency deposit rating, which incorporates the bank's standalone bank financial strength rating of D+.

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