Fitch lifts Banco Industrial do Brasil

Fitch Ratings said it upgraded Banco Industrial do Brasil SA's long-term issuer default rating to BB from BB- and long-term national rating to A+(bra) from A(bra).

The outlook remains stable.

Fitch said the upgrade reflects Banco Industrial do Brasil’s stable risk profile, adequate performance, above-peer average, as well as the good asset quality, liquidity and capitalization, through the different Brazilian economy cycles.

The ratings are also supported by the bank’s experience and consistent focus on small and medium-sized companies.

On the other hand, these factors are offset by the bank's small size, when compared to peers and by the asset and liability concentrations inherent to its business model, Fitch said.

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