Fitch: Brazil's Banks Face Intensified Litigation Environment

April 17, 2015 6:07 PM

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(The following statement was released by the rating agency) CHICAGO, April 17 (Fitch) New and ongoing anticorruption investigations have created a more intense litigation environment that could add headwinds to Brazil's banks over the near term, says Fitch Ratings.

The new investigations cast further uncertainty on the already established Lava Jato investigations involving Petrobras and several of Brazil's largest corporations, and the long-running savings account class action suits related to economic plans of the 1990s, which are still pending a final decisi...

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