Fitch affirms Banco Safra

Fitch Ratings said it affirmed all ratings of Banco Safra SA, Safra Leasing SA - Arrendamento Mercantil as well as its debenture issuances.

The long-term outlook remains stable.

Affirmed ratings include Banco Safra's issuer default rating at BBB-; outlook stable; short-term foreign currency issuer default rating at F3; long-term local currency issuer default rating at BBB-, outlook stable; short-term local currency issuer default rating at F3; individual rating at C; long-term national rating at AA+(bra), outlook stable; short-term national rating at F1+(bra); support rating at 4; and support rating floor at B+;

• Safra Leasing's long-term national rating at AA+(bra), outlook stable; short-term national rating at F1+(bra); and the long-term national rating at AA(bra) for its 12th, 13th, 14th and 15th issuance of debentures; as well as

• Banco Safra's 300 million reais of notes and long-term local currency rating at BBB-.

The affirmation of Safra's ratings reflects the bank's capacity and ability to manage risks and adapt its balance sheet during periods of economic volatility, its consistent performance, with conservative practices in managing credit exposures, and good controls on its collateral stream, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.