Moody's gives Banco do Brasil floaters Baa3

Moody's Investors Service said it assigned a Baa3 long-term foreign currency rating to Banco do Brasil SA - Cayman Branch's floating-rate notes due 2014 in the amount of $100 million.

The notes are being issued under the bank's existing $5 billion global medium-term note program, the agency said.

Because the Baa3 bond rating is constrained by Brazil's Baa3 foreign currency bond ceiling, the rating is being placed on review for possible upgrade, following the review for upgrade of Brazil's country ceiling, the agency added.

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