S&P revises Banco Fibra view to positive

S&P said it revised its outlook on Banco Fibra SA to positive from stable. Concurrently, the agency affirmed the B- ratings.

S&P also raised the national scale ratings to brBBB+ from brBBB-. The outlook on this scale is also positive.

“We believe the bank benefited from the favorable momentum in the commodities prices and took advantage of operations within the supply chain of Companhia Siderurgica Nacional (CSN; B+/positive/B). Consequently, the bank's operating results and profitability have been higher than historical average. At the same time, its asset quality strengthened thanks to the stronger underwriting standards,” the agency said in a press release.

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