Moody's rates BES notes Baa2

Moody's Investors Service said it assigned long- and short-term foreign-currency debt ratings of Baa2 and prime-3, respectively, to BES Investimento do Brasil SA's $1 billion global medium-term note program. The agency also said it assigned a Baa2 long-term foreign-currency debt rating to its $500 million senior unsecured notes, due in 2015, which are being issued under the current program.

The outlook is stable.

Moody's noted that the company's foreign-currency debt ratings are at the same level as the nation's foreign-currency country ceiling for bonds and notes.

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