Fitch Affirms Brazilian Subsidiaries of Foreign Banks

SAO PAULO--(BUSINESS WIRE)-- Fitch Ratings has affirmed the ratings on the following Brazilian subsidiaries of foreign banks:

-- Banco Societe Generale Brasil S.A. (SGBr)-- Banco Caixa Geral Brasil S.A. (BCG-Brasil)-- Banco Credit Agricole Brasil S.A. (BCAB)-- China Construction Bank (Brasil) S.A. (CCB Brasil)-- Banco Rabobank International Brasil S.A. (Rabobank Brasil)-- Bank of America Merrill Lynch - Banco Multiplo S.A. (BRBofAML)-- Deutsche Bank S.A. - Banco Alemao (DBSA)-- Banco de Investimento Credit Suisse (Brasil) (Bics)

A full list of rating actions is provided at the end of this release.

The ratings of all eight banks are based on support from their respective parent entities, classified as strategically important subsidiaries. None of the banks have Viability Ratings.

For further details on these entities, as well as for regulatory information, please see the individual press releases for each bank published today, available on Fitch's website at 'www.fitchratings.com' and 'www.fitchratings.com.br'.

Fitch has affirmed the following ratings:

SGBr:

--National Long-term rating at 'AAA(bra)', Outlook Stable;--National Short-term rating at 'F1+(bra)'.

BCG-Brasil:

--National Long-term rating at 'A-(bra)', Outlook Stable;--National Short-term rating at 'F2(bra)'.

BCAB:

--National Long-term rating at 'AAA(bra)', Outlook Stable;--National Short-term rating at 'F1+(bra)'.

Bics:

--National Long-term rating at 'AAA(bra)', Outlook Stable;--National Short-term rating at 'F1+(bra)'.

CCB Brasil:

--National Long-term rating at 'AAA(bra)', Outlook Stable;--National Short-term rating at 'F1+(bra)'.

Rabobank:

--National Long-term rating at 'AAA(bra)', Outlook Stable;--National Short-term rating at 'F1+(bra)'.

BRBofAML:

--National Long-term rating at 'AAA(bra)', Outlook Stable;--National Short-term rating at 'F1+(bra)'.

DBSA:

--National Long-term rating at 'AAA(bra)', Outlook Stable;--National Short-term rating at 'F1+(bra)'.

Additional information available at 'www.fitchratings.com' or 'www.fitchratings.com.br'.

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160204006534/en/

Fitch Ratings
Claudio Gallina (Primary: BCAB)
Senior Director
+55 11 4504-2216
Fitch Rating Brasil Ltda.
Alameda Santos 700
Sao Paulo, Brazil
or
Raphael Nascimento (Primary: CCB Brasil, BCG-Brasil, Rabobank Brasil / Secondary:BCAB)
Associate Director
+55 11 3957-3664
or
Eduardo Ribas (Primary: DBSA / Secondary: Bics)
Director
+55 11 4504-2213
or
Pedro Gomes (Primary: BRBofAML / Secondary: CCB Brasil, Rabobank, SGBr)
Director
+55 11 4504-2604
or
Esin Celasun (Primary: SGBr / Secondary: BCG-Brasil, DBSA, BRBofAML)
Director
+55 21 4503-2626
Fitch Ratings Brasil Ltda.
Praca XV de Novembro, 20 - 401 B,
Rio de Janeiro, RJ, Brasil
or
Pedro Carvalho (Primary: Bics)
Analyst
+55 21 4503-2602
or
Committee Chairperson
Alejandro Garcia
Managing Director
+52 (81) 8399-9146
or
Media Relations:
Jaqueline Carvalho, Rio de Janeiro, +55 21 4503 2623
[email protected]
or
Elizabeth Fogerty, New York, +1-212-908-0526
[email protected]

Source: Fitch Ratings

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