Moody's turns Banrisul outlook to stable

Moody's Investors Service said it changed the outlook to stable from negative and affirmed all ratings and assessments assigned to Banco do Estado do Rio Grande Do Sul SA (Banrisul), including its B2 (hyb) foreign-currency subordinate debt rating.

“In changing to stable the ratings' outlook, Moody's acknowledges the bank's steady performance in 2021, namely in terms of the bank's capitalization and profitability. In the next outlook horizon, we expect earnings and capital will no longer be under pressure by a possible bid for a payroll service with the state of Rio Grande do Sul as negotiations came to an end on March 17th,” the agency said in a press release.

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