Fitch affirms Banco Votorantim

Fitch Ratings said it affirmed Banco Votorantim SA's long-term foreign- and local-currency issuer default ratings at BBB-, short-term foreign- and local-currency issuer default ratings at F3, national long-term rating at AA+(bra) and short-term national rating at F1+(bra).

The agency said it also affirmed the national long-term rating at AA+(bra) for the issuances of BV Leasing Arrendamento Mercantil SA.

The outlook is stable.

The ratings are driven by the support from Banco do Brasil SA, Fitch said.

The ratings also reflect its growing franchise, adequate asset quality and continuing efforts to diversify its asset, funding and revenue base, the agency said.

It also considers the potential weaknesses inherent to an aggressive treasury, some vulnerability to losses in times of stress and the growing leverage that pressures its capitalization ratios, 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.