Fitch assigns BTG Pactual notes BB-

Fitch Ratings said it assigned Banco BTG Pactual SA's $500 million senior unsecured notes due 2025 reopening an expected BB- long-term rating.

The notes will be part of BTG Pactual's reopening of senior unsecured notes, originally issued in November 2019, and will be issued through Banco BTG Pactual SA (Cayman Branch) under the parent bank's $5 billion medium-term note program.

“The senior unsecured notes are rated at the same level as the bank's BB- long-term issuer default ratings (IDRs), which reflects the unsecured nature of the instruments,” Fitch said in a press release.

The outlook is negative.

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