JPMorgan says Brazil probe unlikely to hit Caixa debt near term

April 13, 2015 11:49 PM

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SAO PAULO, April 13 (Reuters) - The latest probe of government corruption in Brazil is unlikely to affect state-controlled Caixa Econômica Federal in the short term as the nation's largest mortgage lender does not need to tap bond markets at this stage, JPMorgan Securities said on Monday.

Prosecutors found that advertisement agencies hired by Caixa used front companies to funnel part of contract money into ruling coalition parties.

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