Fitch gives BTG Pactual securities B+

Fitch Ratings said it assigned expected long-term ratings of B+(EXP) to Banco BTG Pactual SA's proposed issuance of perpetual noncumulative junior subordinated securities.

The expected ratings are four notches below BTG Pactual's viability rating of bbb-.

The notes will be issued by BTG Pactual's Luxembourg branch in dollars for an amount and a fixed interest rate to be determined at the time of the issuance. The notes will be perpetual securities with no fixed maturity date or mandatory redemption date. Interest payments will be made semi-annually. The issuance will be included in one or more fully registered Rule 144A global notes and Regulation S global notes.

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