Moody's rates Banco Industrial tier 2 notes B1

Moody's Investors Service said it assigned a B1 foreign currency subordinated debt rating to the proposed tier 2 subordinated notes of Banco Industrial SA.

The proposed notes will be denominated and settled in U.S. dollars and will be due in 2031. The notes are also callable after five years, and the issuance amount will be up to $300 million, Moody’s said.

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