Moody's rates Bicbanco notes Ba1

Moody's Investors Service said it assigned a Ba1 long-term foreign-currency debt rating to the $275 million senior unsecured notes due January 2013 issued by Banco Industrial e Comercial S/A, or Bicbanco.

The notes were issued under the bank's $1 billion global euro medium-term note program.

The outlook is stable.

Moody's said the bank's foreign-currency debt ratings remain unconstrained by Brazil's foreign-currency country ceiling for bonds and notes.

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