Fitch ups BTG Pactual national ratings

Fitch Ratings said it affirmed the long-term foreign and local currency issuer default ratings of Banco BTG Pactual SA and its related entities, PPLA Investments LP and BTG Pactual Holding SA.

The outlook is stable.

In addition, Fitch upgraded BTG Pactual and BTG Pactual Holding's national ratings to AA-(bra) from A+(bra).

“The upgrade of BTG Pactual's national ratings follows improvements on its financial profile when compared to local peers,” the agency said in a in a news release.

The action also reflects the bank's performance track record when compared to local peers and its continued adequate internal capital generation, a result of the bank's constant business model resilience, which is considered now more aligned with AA-(bra) rated entities, Fitch said.

© 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.