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Fitch ups BTG Pactual to A(bra)
Fitch Ratings said it affirmed the issuer default ratings of BTG Pactual SA and its related entities: BTG Pactual Holding SA and BTGI Investments LP.
At the same time, the agency upgraded BTG Pactual’s and BTG Pactual Holding’s national ratings to A(bra) from A-(bra) with a stable outlook.
Fitch said the upgrade of the national scale ratings reflects the local relativity adjustment on BTG Pactual's creditworthiness, to incorporate the bank's reduced refinancing risk and improved liquidity and capital stance, which are now more consistent to the A(bra) rating category.
This reflects management's successful efforts toward the repositioning of its franchise, only 14 months after the liquidity crisis that affected the bank, the agency added.
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