Fitch Reviews Ratings for 7 Brazilian Midsized Banks

SAO PAULO & RIO DE JANEIRO & NEW YORK--(BUSINESS WIRE)-- --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)

The ratings for ABC Brasil, Alfa, Daycoval, Safra and Parana were all affirmed.

Industrial's Foreign Currency and Local Currency IDRs were upgraded to 'BB' from 'BB-', and its Viability Rating to 'bb' from 'bb-'. The National Long Term Rating was upgraded to 'A+'(bra) from 'A'(bra).

Pine's Foreign Currency and Local Currency IDRs were downgraded to 'BB' from 'BB+', and its Viability Rating to 'bb' from 'bb+'. The National Long-Term Rating was downgraded to 'A+'(bra) from 'AA-'(bra).

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

For further details on these entities, as well as for regulatory information, 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 affirmed at 'BBB-'; Outlook Stable;

--Short-term foreign and local currency IDRs affirmed at 'F3';

--Viability rating affirmed at 'bbb-';

--Long-term national rating affirmed at 'AA(bra)'; Outlook Stable;

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

--Support rating affirmed at '3'.

--Senior unsecured BRL notes due 2016 foreign currency rating affirmed at 'BBB-'

Alfa

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

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

Daycoval

--Long-term foreign and local currency IDRs affirmed at 'BBB-', Outlook Stable;

--Short-term foreign and local currency IDRs affirmed at 'F3';

--Viability rating affirmed at 'bbb-';

--Long-term national rating affirmed at 'AA(bra)'; Outlook Stable;

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

--Support rating affirmed at '5';

--Support rating floor affirmed at 'NF';

--Senior unsecured USD notes due 2016 and 2019, foreign currency rating affirmed at 'BBB-'.

--Senior unsecured BRL letras financeiras due 2015, 2016 and 2017 affirmed at 'AA(bra).

Industrial

--Long-Term Foreign and Local Currency IDRs upgraded to 'BB' from 'BB-'; Outlook Stable;

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

--Viability Rating upgraded to 'bb' from 'bb-' ;

--Support Rating affirmed at '5';

--Support Rating Floor affirmed at 'No Floor'.

--Long-Term National Rating upgraded to 'A+ (bra)' from 'A (bra)'; Outlook Stable;

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

Pine

--Long-Term Foreign and Local Currency IDRs downgraded to 'BB', from 'BB+'; Outlook Stable;

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

--Viability Rating downgraded to 'bb' from 'bb+';

--Support Rating affirmed at '5';

--Support Rating Floor affirmed at 'no floor';

--Long-Term National Rating downgraded to 'A+(bra)' from 'AA-(bra)' ; Outlook Stable;

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

--Senior unsecured BRL letras financeiras due 2014, 2015 and 2016 downgraded to 'A+(bra)' from 'AA-(bra)';

--Subordinated Debt USD Notes due 2017 downgraded to 'B+' from 'BB-' .

--Huaso Bonds Program Expiring in 2022 downgraded to 'A-(cl)' from 'A(cl)' (single A cl).

Safra

--Long-term foreign and local currency IDRs affirmed at 'BBB' ; Outlook Negative

--Short-term foreign and local currency IDRs affirmed at 'F2';

--Viability rating affirmed at 'bbb';

--Support Rating affirmed at '4'

--Support rating floor affirmed at 'B+';

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

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

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

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

Safra Leasing:

--National long-term rating affirmed at 'AAA(bra)'; Outlook Stable;

--National short-term rating affirmed at 'F1+(bra)'.

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

Parana

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

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

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

Applicable Criteria and Related Research:

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

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

Applicable Criteria and Related Research:

Global Bank Rating Criteria

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

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Fitch Ratings
Claudio Gallina (Primary: Pine / Secondary: Daycoval)
Senior Director
+55-11-4504-2216
Fitch Ratings Brasil Ltda.
Alameda Santos 700
Sao Paulo, Brazil
or
Eduardo Ribas (Primary: Daycoval / Secondary: ABC Brasil, Alfa, Industrial, Pine, Safra)
Director
+55-11-4504-2213
or
Robert Stoll (Primary: ABC Brasil, Safra)
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
Committee Chairperson
Franklin Santarelli
Managing Director
+1-212-908-0739
or
Media Relations:
Elizabeth Fogerty, +1-212-908-0526
[email protected]

Source: Fitch Ratings

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