S&P lowers Banco de Brasilia to BB-/brA-

Standard & Poor's said it lowered its long-term issuer credit ratings on Banco de Brasilia SA (BRB) to BB- from BB on global scale and to brA- from brA+ on a national scale.

At the same time, S&P removed the ratings from CreditWatch where they were placed with negative implications Sept. 10. The outlook is negative.

“The downgrade follows the revision of our assessment of BRB's capital and earnings score to moderate from adequate, reflecting the deterioration in its capitalization according to our risk-adjusted capital methodology,” said S&P credit analyst Edgard Dias in a news release.

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