Fitch Places Brazilian Banks' Debt Rtgs On Rtg Watch Neg.Business Editors NEW YORK--(BUSINESS WIRE)--Aug. 2, 2002 Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. today placed the long term foreign and local currency debt ratings of the Brazilian banks listed below on Rating Watch Negative; all other ratings on these banks remain unchanged. The Rating Watch follows a similar action taken yesterday with Brazil's sovereign rating. The details of the sovereign action, as well as the detail on the full ratings of the Brazilian banks, are available on our Web site www.fitchratings.com. At the same time, Fitch has affirmed Bradesco Seguros' IFS (Insurance Financial Strength) rating at 'B+'. In line with the Rating Watch Negative assigned to Brazil's sovereign ratings, the IFS rating for Bradesco Seguros' have been placed on Rating Watch Negative. Ratings Affected: Banco Alfa de Investimento -- Long-term foreign currency 'B+', On Rating Watch Negative Banco BCN BCN Beacon BCN Blue Care Network BCN Biblioteca del Congreso Nacional (Chile) BCN Backbone Concentrator Node (routers, Nortel) BCN Banco Central de Nicaragua BCN Broadband Convergence Network -- Long-term foreign and local currency 'B+', On Rating Watch Negative Banco Bradesco Banco Bradesco, short for Banco Brasileiro de Descontos, that is 'Brazilian Discount Bank', is one of the Big Four banks in Brazil, the others being Banco do Brasil, Banco Itaú and Unibanco. Bradesco is the largest private bank in Brazil. -- Long-term foreign currency 'B+', On Rating Watch Negative Banco Brascan -- Long-term foreign and local currency 'B+', On Rating Watch Negative Banco do Brasil Banco do Brasil S.A. is a major Brazilian bank headquartered in Brasília. The bank was founded in 1808 and is the oldest surviving bank in Brazil — one of the oldest of Latin America. -- Long-term foreign currency 'B+', On Rating Watch Negative Banco Fibra -- Long-term foreign currency 'B+', On Rating Watch Negative Banco Itau -- Long-term foreign and local currency 'B+', On Rating Watch Negative Banco Safra Banco Safra S.A. is a notable and respected player in the Brazilian and international banking sector, ranking sixth among the country’s largest private sector financial institutions in terms of total assets. -- Long-term foreign and local currency 'B+', On Rating Watch Negative Banco Santos Santos (sän`t  s), city (1996 pop. 412,288), São Paulo state, SE Brazil, on the island of São Vicente in the Atlantic just off the mainland. -- Long-term foreign currency 'B+', On Rating Watch Negative Banco Sul America -- Long-term foreign currency 'B+', On Rating Watch Negative Banco Votorantim -- Long-term foreign currency 'B+', On Rating Watch Negative BBV BBV Banco Bilbao-Vizcaya BBV Black Box Voting (unsecure voting machines) BBV Blood-borne Virus BBV Blockbuster Video (store) BBV Beroepsorganisatie Banken Verzekeringen (Dutch) Banco -- Long-term foreign currency 'B+', On Rating Watch Negative Unibanco -- Long-term foreign currency 'B+', On Rating Watch Negative Bradesco Seguros' -- IFS (Insurance Financial Strength rating) 'B+', On Rating Watch Negative |
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