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Moody's rates Banco Industrial do Brasil Ba3
Moody's Investors Service said it assigned a bank financial strength rating of D-, Ba3 long- and Not Prime short-term local- and foreign-currency deposit ratings and A3.br long- and BR-2 short-term national scale deposit ratings to Banco Industrial do Brasil SA.
The outlook is stable.
The agency said the ratings reflect the bank's traditionally secured middle-market lending strategy, the growth brought by opportunities in the payroll-deductible lending business, management's efforts to diversify product lines and an agile operating structure within a flexible business model, which is in turn bolstered by a strong credit-risk management platform.
The ratings also reflect the bank's small footprint and limited competitive capacity in consumer-banking activities, Moody's said.
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