Fitch affirms Banco Bradesco

Fitch Ratings said it affirmed Banco Bradesco SA's long-term foreign-currency issuer default rating at BBB.

Bradesco's ratings reflect its broad national franchise and a strong track record of consistent results through turbulent economic cycles, achieved due to solid, conservative management and the diversified business and revenue base, according to the agency.

Ratings also consider the company's strong capacity of local distribution, ample client base and solid liquidity, the agency noted.

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