Fitch Affirms Banestes' and BRB's IDRs; Outlook Revised to Negative

April 27, 2015 7:52 PM

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(The following statement was released by the rating agency) RIO DE JANEIRO, April 27 (Fitch) Fitch Ratings has affirmed Banestes S.A. - Banco do Estado do Espirito Santo's and Banco de Brasilia S.A.'s (BRB) Long-term Foreign and Local Currency Issuer Default Ratings (IDRs), as well as their Long-term National Ratings.

The Rating Outlook for the IDRs was revised to Negative from Stable. A full list of rating actions follows at the end of this press release. Key Rating Drivers - IDRs, National Ratings and Support Rating The rating actions reflect Fitch's expectation of the weaker financial strength of Banestes and ...

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