S&P lifts BESI Brasil view to stable

Standard & Poor's said it revised the outlook on BES Investimento do Brasil (BESI Brasil) to stable from negative following a similar action on its parent companies.

The agency also said it affirmed the BB-/B global scale and brA/brA-2 national scale issuer credit ratings (ICR) on the bank.

The outlook revision reflects follows the May 21 outlook revision on its parents - BES and BESI - to stable from negative.

The outlook revision reflects news that the company will undertake a €1.045 billion capital increase and a current view on the stable trends for both economic and industry risks in the Portuguese banking system, S&P said.

The ratings reflect the BBB- anchor for banks operating primarily in Brazil and a view of the bank's moderate business position, adequate capital and earnings, moderate risk position, below average funding and adequate liquidity, the agency said.

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