Moody's rates Bndespar bonds A3

Moody's Investors Service said it assigned an A3 global local-currency senior debt rating to BNDES Participacoes SA - Bndespar's R$1.5 billion first issuance under its R$8 billion senior, non-convertible debenture program, and Moody's America Latina Ltda. assigned an Aaa.br long-term Brazilian national scale senior debt rating.

The outlook is stable.

The debentures will be issued in up to three series, with the first and second series maturing Jan. 1, 2014 and the third series maturing Jan. 15, 2017.

Bndespar is a wholly owned subsidiary of Banco Nacional de Desenvolvimento Econômico e Social SA

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