Fitch Affirms Ratings of 7 Brazilian Midsized Banks

SAO PAULO & RIO DE JANEIRO & NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has reviewed all of the ratings of the following Brazilian midsized banks:

--Banco ABC Brasil S.A. (ABC Brasil)

--Banco Alfa de Investimento S.A. (Alfa)

--Banco Daycoval S.A. (Daycoval)

--Banco Industrial do Brasil S.A. (Industrial)

--Banco Pine S.A. (Pine)

--Banco Safra S.A. (Safra)

--Safra Leasing Arrendamento Mercantil S.A. (Safra Leasing)

--Parana Banco S.A. (Parana)

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

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

Fitch has affirmed the following ratings:

ABC Brasil

--Long-Term Foreign and Local Currency IDRs at 'BB+', Outlook Negative;

--Short-Term Foreign and Local Currency IDRs at 'B';

--Viability rating at 'bb';

--Long-term National rating at 'AA+(bra)', Outlook Stable;

--Short-term National rating at 'F1+(bra)';

--Support rating at '3'.

Alfa

--Long-term National Rating at 'AA(bra)', Outlook Stable;

--Short-term National Rating at 'F1+(bra)'.

Daycoval

--Long-term Foreign and Local Currency IDRs at 'BB', Outlook Negative;

--Short-Term Foreign and Local Currency IDRs at 'B';

--Viability rating at 'bb';

--Long-term National rating at 'AA(bra)', Outlook Stable;

--Short-term National rating at 'F1+(bra)';

--Support rating at '5';

--Support rating floor at 'NF';

--Senior unsecured USD notes due 2019, foreign currency rating at 'BB'.

--Senior unsecured BRL letras financeiras due 2016 and 2017 at 'AA(bra).

Industrial

--Long-Term Foreign and Local Currency IDRs at 'BB'; Outlook Negative;

--Short-Term Foreign and Local Currency IDRs at 'B';

--Viability Rating at 'bb' ;

--Support Rating at '5';

--Support Rating Floor at 'NF'.

--Long-Term National Rating at 'AA- (bra)'; Outlook Stable;

--Short-Term National Rating to 'F1+ (bra)'.

Pine

--Long-Term Foreign and Local Currency IDRs at 'BB-', Outlook Negative;

--Short-Term Foreign and Local Currency IDRs at 'B';

--Viability Rating at 'bb-';

--Support Rating at '5';

--Support Rating Floor at 'NF';

--Long-Term National Rating at 'A+(bra)', Outlook Negative;

--Short-Term National Rating affirmed at 'F1+(bra)'.

--Senior unsecured BRL letras financeiras due 2016 at 'A+(bra)';

--Subordinated Debt USD Notes due 2017 at 'B'.

--Huaso Bonds Program Expiring in 2022 at 'BBB+'.

Safra

--Long-Term Foreign and Local Currency IDRs at 'BB'; Outlook Negative

--Short-Term Foreign And Local Currency IDRs at 'B';

--Viability rating at 'bb';

--Support Rating at '4'

--Support rating floor at 'B+';

--National Long-Term rating at 'AA(bra)'; Outlook Stable;

--National Short-Term rating at 'F1+(bra)';

--Market-linked BRL Securities due 2016 and 2017 at 'BBemr';

--Senior unsecured CHF notes due 2017 and 2019 at 'BB'.

Safra Leasing:

--National Long-Term rating at 'AA+(bra)'; Outlook Stable;

--National Short-Term rating at 'F1+(bra)'.

--Subordinated Debenture Issues due 2017, 2035, 2036 and 2037 at 'AA(bra)' .

Parana

--Long-Term National Rating at 'AA-(bra)', Outlook Stable;

--Short-term National Rating at 'F1+(bra)'.]

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'Global Bank Rating Criteria' (Mar. 20, 2015);

--'National Ratings Criteria' (Oct. 30, 2013).

Applicable Criteria

Global Bank Rating Criteria (pub. 20 Mar 2015)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=863501

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/20160706006300/en/

Fitch Ratings
Eduardo Ribas (Primary: Daycoval / Secondary: ABC Brasil, Industrial, Pine, Safra)
Director
+55 11 4504-2213
Fitch Ratings Brasil Ltda. ,
Alameda Santos, 700 - 7th floor, Sao Paulo, SP, Brazil
or
Robert Stoll (Primary: ABC Brasil, Safra, Pine / Secondary: Alfa)
Director
+1 212 908 9155
or
Jean Lopes (Primary: Industria, Parana)
Director
+55 21 4503-2617
or
Pedro Gomes (Primary:Alfa)
Director
+55 11 4504-2604
or
Esin Celasun (Secondary: Parana)
Director
+55 21 4503-2626
or
Raphael Nascimento (Secondary: Daycoval)
Associate Director
+55-11 3957-3664
or
Committee Chairperson
Alejandro Garcia
Managing Director
+1-212-908-9137
or
Media Relations
Elizabeth Fogerty, New York, +1-212-908-0526
[email protected]

Source: Fitch Ratings

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