Fitch Affirms and Withdraws Banco Votorantim's Ratings

NEW YORK/SAO PAULO--(BUSINESS WIRE)-- Fitch Ratings has affirmed and withdrawn its ratings for Banco Votorantim S.A. (Votorantim) at 'BB-'/Negative Outlook, and BV Leasing - Arrendamento Mercantil S.A.s (BV Leasing) issuance at 'A+(bra)'. See a full list of rating actions at the end of this release.

Fitch is withdrawing the ratings as Votorantim and BV Leasing have chosen to stop participating in the rating process. Fitch will no longer have sufficient information to maintain the ratings and, accordingly, will no longer provide ratings or analytical coverage for Votorantim and BV Leasing.

RATING SENSITIVITIES

Ratings Sensitivities are not applicable, as the ratings have been withdrawn.

The following ratings were affirmed and withdrawn:

Banco Votorantim S.A.

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

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

--National Scale Long-Term rating of 'AA-(bra)'/Outlook Negative;

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

--Viability Rating of 'bb-';

--Support Rating of '3'.

BV Leasing - Arrendamento Mercantil S.A.

--National Scale Long-Term rating of 'A+(bra)' on issuance maturing 2026.

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

Applicable Criteria

Global Bank Rating Criteria (pub. 15 Jul 2016)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=884135

Global Non-Bank Financial Institutions Rating Criteria (pub. 15 Jul 2016)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=884128

National Scale Ratings Criteria (pub. 30 Oct 2013)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=720082

Additional Disclosures

Dodd-Frank Rating Information Disclosure Form

https://www.fitchratings.com/creditdesk/press_releases/content/ridf_frame.cfm?pr_id=1009265

Solicitation Status

https://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=1009265

Endorsement Policy

https://www.fitchratings.com/jsp/creditdesk/PolicyRegulation.faces?context=2&detail=31

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/20160721006490/en/

Fitch Ratings
Primary Analyst
Robert Stoll
Director
+1 212-908-9155
Fitch Ratings, Inc.
33 Whitehall St.
New York, NY 10004
or
Secondary Analyst
Esin Celasun
Director
+55 11 4503 2626
or
Committee Chairperson
Alejandro Garcia, CFA
Managing Director
+1 212-908-9137
or
Media Relations
Elizabeth Fogerty
+1-212-908-0526
New York
[email protected]

Source: Fitch Ratings

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