Moody's to rate BNDES notes Baa1

Moody's Investors Service said it expects to assign a Baa1 long-term foreign-currency debt rating to the notes to be issued by Banco Nacional de Desenvolvimento Econômico e Social.

The proposed issuance, in the amount of CHF 200 million will be unsecured, unsubordinated obligations of BNDES, with a maturity of five years and 150 days.

The outlook is positive.

The rating considers BNDES' fundamental credit quality and all relevant country risks, the agency said.

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