S&P assigns Banco Schahin notes B

Standard & Poor's said it assigned its B foreign-currency short-term senior unsecured debt rating to Banco Schahin SA's $15 million notes issued on Sept. 19 and maturing in 12 months.

The counterparty credit rating on Banco Schahin SA (B/stable/B) reflects the intrinsic risks of a small bank facing the challenge of growing its retail business while maintaining adequate funding in the increasingly competitive and volatile Brazilian banking market, S&P said.

S&P said the risk factors are partially offset by the bank's coherent strategy to generate more retail business while gradually reducing the weight of loans to small and midsize.

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