Moody's rates Bndespar bonds A3

Moody's Investors Service said it assigned an A3 global local-currency senior debt rating to BNDES Participações SA - Bndespar's R$1 billion non-convertible debentures, and Moody's America Latina Ltda. assigned an Aaa.br long-term Brazilian national scale senior debt rating to the debentures.

The outlook is stable.

The debentures will be issued in up to two series for a total amount of R$1 billion, with the first series maturing Jan. 1, 2013 and the second series maturing Jan. 15, 2015.

Bndespar is a wholly owned subsidiary of Banco Nacional de Desenvolvimento Econômico e Social SA - BNDES (A3/Aaa.br). Moody's said BNDES' direct ownership of Bndespar supports the ratings.

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