Moody's lifts Banco Votorantim view to stable

Moody's Investors Service said it affirmed all of Banco Votorantim SA's ratings following the affirmation of the bank's Ba3 baseline credit assessment.

The bank has a Ba2 rating and not-prime for long- and short-term local-currency deposits, Ba3 and not-prime for long- and short-term foreign-currency deposits.

Banco Votorantim SA (Nassau Branch)'s long-term senior unsecured foreign-currency debt rating also was affirmed at provisional Ba2.

The outlook also was revised to stable from negative.

The ratings reflect the gradual improvement in the company's asset quality and resulting increase in revenue generation, Moody's said.

The ratings also consider an expectation that the bank's financial metrics will continue to improve over the next 12- to 18-months, benefiting from lower credit costs and a more diverse revenue structure, the agency said.

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