Moody's rates BES notes Baa3

Moody's Investors Service said it assigned a Baa3 long-term foreign-currency debt rating to BES Investimento do Brasil SA's $150 million senior unsecured notes due in 2012.

The outlook is stable.

The Baa3 rating incorporates BES's fundamental credit quality, which is reflected by its Baa1 global local-currency deposit rating, as well as all relevant country risks, the agency noted.

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