Fitch Affirms & Withdraws Ratings of UBS Pactual Overseas Corporation.SAO PAULO, Brazil & RIO DE JANEIRO Rio de Janeiro, city, Brazil Rio de Janeiro (rē`ō də zhänā`rō, Port. rē`  thĭ zhənĕē`r , Brazil & NEW YORK --
Today, Fitch Ratings has affirmed the Long-term Foreign Currency Issuer
Default Rating (IDR IDRIn currencies, this is the abbreviation for the Indonesian Rupiah. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) 'BB+' (BB plus), Short-term Foreign Currency Rating 'B' and Support Rating '3' of UBS Pactual Overseas Corporation (UBS POC (Proof Of Concept) See PoC exploit. POC - Point Of Contact ). In addition, Fitch has withdrawn the ratings. The Outlook of the Long-Term IDR of UBS POC was Positive, following the Rating Outlook of the sovereign IDRs. UBS POC is based on Cayman Island and 100% controlled by Banco UBS Pactual S.A. (UBS Pactual). In December 2006, following the successful closing of the sale of Banco Pactual S.A and its subsidiaries to UBS AG (UBS), both institutions became full subsidiaries of UBS, the largest bank of Switzerland and one of the largest in the world. Founded in 1983, UBS Pactual is the 11th-largest private bank in Brazil in asset and one of the leaders in investment banking, strongly renowned in its niches. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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