| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers B > Headlines for Banco Santander Meridional SA > News item |
Fitch upgrades Brazilian issuers
Fitch Ratings upgraded the long-term foreign currency rating of several Brazilian corporations and banks to B+ from B and changed the outlook to stable from positive.
Fitch said the actions follow its upgrade of the foreign currency rating of the Federative Republic of Brazil to B+ from B. The corporate foreign currency ratings continue to be constrained by the B+ rating of the sovereign.
Fitch said its upgrade of Brazil's sovereign rating is a result of the improving performance of the country's economy as well as its macroeconomic policy framework. Fitch believes that the precautionary agreement with the IMF announced on Nov. 5 demonstrates the commitment of the Brazilian authorities to appropriate fiscal policy settings and signals the IMF's intention to help financially insulate Brazil from external shocks over the medium term.
Companies upgraded to B+ from B with a stable outlook are: Alcoa Aluminio SA, Aracruz Celulose SA, Companhia de Bebidas das Americas SA, Companhia Petrolifera Marlim, Companhia Siderurgica de Tubarao SA, Companhia Siderurgica Nacional SA (CSN), Gerdau SA, MRS Logistica SA, Petroleo Brasileiro SA (Petrobras), Ripasa Celulose e Papel SA, Sadia SA, Samarco Mineracao SA, Tele Norte Leste Participacoes SA, Telemar Norte Leste SA and Trikem SA.
Banks upgraded to B+ from B with a stable outlook are: Banco BCN, Banco Bradesco, Banco do Brasil, Banco do Estado de Sao Paulo (Banespa), Banco Itau, Banco Itau Holding Financeira, Banco Safra, Banco Santander Brasil, Banco Santander Meridional, Banco Votorantim and Unibanco.
Banco Brascan and Banco Santos were confirmed at B and the outlook revised to stable from positive.
© 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.