Moody's rates Itau Unibanco notes Baa2

Moody's Investors Service said it assigned a Baa2 foreign-currency debt rating to senior unsecured notes to be issued by Itau Unibanco Holding SA.

The proposed notes will be denominated in Brazilian reais and settled in U.S. dollars. The notes will be due in 2015.

The outlook is positive, in line with the country ceiling for Brazil's bonds.

The agency noted that the foreign-currency senior unsecured debt rating derives from the company's A2 local-currency issuer rating.

The company's foreign-currency bond rating is constrained by Brazil's Baa2 country ceiling, and carries the positive outlook of the ceiling, Moody's said.

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