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Fitch cuts Bradesco Seguros, Sul America
Fitch Ratings said it downgraded Bradesco Seguros SA's insurer financial strength rating to BBB- from BBB and Sul America SA's long-term local- and foreign-currency issuer default ratings to BB- from BB.
The outlooks are negative.
The actions follow the downgrade of Brazil's long-term issuer default ratings to BB+ from BBB-/negative.
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