S&P affirms Bradesco

Standard & Poor's said it affirmed its global scale BBB/A-2 issuer credit ratings on Banco Bradesco SA.

At the same time, the agency said it affirmed the national scale brAAA/brA-1 ratings on Bradesco and the brAAA rating on its core subsidiary, Bradesco Capitalizacao SA. The outlook is stable.

The agency said the stable outlook reflects S&P's expectation that Bradesco will maintain its very strong business position as Brazil's second-largest private bank, it stable levels of nonperforming loans and its adequate earnings generation in the next two years.

S&P said a rating action on the bank would depend on a similar action on the sovereign.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.