S&P rates Banco Pine notes BB-

Standard & Poor's said it assigned its BB- foreign currency long-term debt rating to Banco Pine SA's upcoming $100 million of unsecured unsubordinated two-year medium-term notes, issued through its principal office in Brazil or through a designated branch or subsidiary.

The agency added that the long-term foreign-currency counterparty credit rating on Pine is BB-/stable/B.

According to S&P, the ratings on Pine incorporate its relatively small size in an increasingly competitive environment for banks in the small and midsize company segment and in payroll discount lending.

© 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.