Fitch: Banco Safra notes BBB

Fitch Ratings said it assigned a long-term foreign-currency rating of BBB to Banco Safra SA’s upcoming issuance of senior unsecured notes.

The notes, which will be denominated in Swiss Francs and due in five years, will be issued through Safra’s Cayman branch, Fitch said.

The proceeds will be used for general corporate purposes.

The rating assigned corresponds to the bank’s issuer default ratings and ranks equal with other senior unsecured debt, Fitch said.

The ratings reflect the bank’s solid franchise and consistent performance through economic cycles, the agency said.

The bank’s conservative risk policies have proven Safra’s ability to manage risks and adapt its balance sheet and ensure comfortable liquidity levels even during periods of economic volatility, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.