Moody's ups Banco Fibra outlook to positive

Moody's Investors Service said it changed to positive from stable the outlook on the following ratings of Banco Fibra SA's: the bank financial strength rating of D; the long-term global local- and foreign-currency deposit rating of Ba2; as well as the senior unsecured and subordinated debt ratings of Ba2 and Ba3, respectively.

At the same time, Moody's said it upgraded Fibra's long-term national-scale deposit rating to Aa3.br from A1.br, and the agency placed a positive outlook on these ratings.

The Not Prime short-term local- and foreign-currency deposit ratings and BR-1 short-term national-scale rating remained unchanged, Moody's said, adding that the positive outlook reflects Fibra's improving financial flexibility, relative to other Ba2-rated banks in Brazil, which positions it well to resume growth in a more favorable credit environment.

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