Moody's affirms Banco Itau

Moody's Investors Service said it affirmed all existing ratings of Itaś Unibanco SA, Banco Itau BBA SA and their subsidiaries, including Banco Itau Europa SA.

The agency also assigned A2 long- and Prime-1 short-term local-currency issuer ratings, Baa2 long- and Prime-3 short-term foreign-currency issuer ratings and Aaa.br long- and BR-1 short-term Brazil national scale issuer ratings to Itaś Unibanco Holding SA, the bank holding company that consolidates the operations of Itaś Unibanco group.

The outlook on all of the local-currency global and national scale ratings is stable, and the foreign-currency deposit and debt ratings have positive outlooks due to the positive outlook on Brazil's Baa2 foreign-currency deposit and debt ceilings.

In affirming the ratings, Moody's said it acknowledges the main banks' valuable domestic franchises resulting from leading market positions in, respectively, the retail and wholesale/investment banking segments in Brazil.

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