Fitch affirms Brazilian Finance

Fitch Ratings said it affirmed Brazilian Finance & Real Estate SA, Brazilian Securities Companhia de Securitizacao and Brazilian Mortgages Companhia Hipotecaria's foreign- and local-currency issuer default rating at BB-.

The outlook is stable.

The affirmation reflects the group's strong experience in the real estate financial market chain in Brazil, its experienced and conservative team, and the well-identified and controlled risks, according to the agency.

The ratings also consider the company's good credit quality and satisfactory performance, Fitch said.

The ratings also factor the concentration in the real estate market and reliance on institutional funding, the agency noted.

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