Moody's rates Banco Schahin note B2

Moody's Investors Service said it assigned a B2 long-term foreign-currency rating to Brazil-based Banco Schahin SA's $50 million step-up subordinated notes due 2016.

The outlook is stable.

The agency said the subordination of the notes required a two-notch differential from the bank's Ba3 global local-currency deposit rating.

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