Moody's rates Banco Mercantil notes Ba2

Moody's Investors Service said it assigned a Ba2 long-term foreign-currency rating to Banco Mercantil do Brasil SA's $175 million senior unsecured notes due 2010, being issued under the bank's medium-term note program, increased to $600 million from $300 million.

The outlook is stable.

Moody's said the Ba2 bond rating incorporates the issuer's fundamental credit quality, which is reflected by its Ba2 global local-currency deposit rating.

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