Moody's could cut Brazilian banks

Moody's Investors Service said it placed the foreign currency ratings of four subordinated notes issued by two Brazilian banking groups, Banco Bradesco SA and Banco do Brasil SA, acting through their Grand Cayman branches, on review for possible downgrade.

Moody's said the action follows the review for downgrade initiated on several Brazilian banking groups on Feb. 24, as well as Moody's assessment of the correlation between sovereign and financial institutions credit risk globally.

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