Moody's raises rating of Banco Industrial do Brasil

New York, May 20, 2010 -- Moody‘s Investors Service upgraded the bank financial strength rating (BFSR) of Banco Industrial do Brasil S.A. (BIB) to D from D-. At the same time, Moody‘s upgraded BIB‘s long-term global local currency and foreign currency deposit ratings to Ba2 from Ba3. The rating agency also upgraded BIB‘s Brazilian national scale deposit ratings to A1.br and BR-1 from A3.br and BR-2, long- and short-term, respectively. The short-term global local currency and foreign currency deposit ratings of Not Prime were affirmed. The outlook on all these ratings is stable.

Moody‘s noted that the upgrade of BIB‘s BFSR to D is supported by a banking franchise that has shown a track record of modest, yet consistent, revenue generation, leading to its profitability indicators and asset quality metrics presenting low volatility over the past years. The bank‘s strategy of pursuing operational growth through the use of prudent standards for credit approval, backed by high asset collateralization and by the monitoring of credit seasoning with proprietary systems, has resulted in fairly predictable performance.

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Atualizado em 2014-03-26T09:52:50
All the dates of this page are presented in official timezone of Brasilia - Brazil.

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