December 1, 2017 / 5:23 PM / a year ago

Correction: Fitch Completes Ratings Review of Eight Brazilian Small and Midsized Banks

(The following statement was released by the rating agency) SAO PAULO/RIO DE JANEIRO, December 01 (Fitch) This is an amended version of a release that went out Nov. 30, 2017 and corrects the rating actions list. Fitch Ratings has reviewed the ratings for the following Brazilian small and midsized banks: --Banco Triangulo S.A. (Triangulo) --Banco Inter S.A. (Inter) --Banco Rendimento S.A. (Rendimento) --BR Partners S.A. (BR Partners) --Banco BS2 S.A. (BS2) --Banco Pine S.A. (Pine) --Banco Fator S.A. (Fator) --Banco BMG S.A. (BMG) A full list of rating actions follows at the end of this release. For further details of these entities, as well as for regulatory information, please see the individual press releases for each bank published today and available at '' and ''. Fitch has taken the following rating actions: Fator --Long-Term National Rating downgraded to 'BB(bra)' from 'BBB-(bra)'; Outlook Stable; --Short-Term National Rating downgraded to 'B(bra)' from 'F3(bra)'; BMG --Long-Term Foreign Currency Issuer Default Rating (IDR) downgraded to 'B+' from 'BB-'; Outlook Negative; --Short-Term Foreign Currency IDR affirmed at 'B'; --Long-Term Local Currency IDR downgraded to 'B+' from 'BB-'; Outlook Negative; --Short-Term Local Currency IDR affirmed at 'B'; --Viability Rating downgraded to 'b+' from 'bb-'; --Support Rating affirmed at '5'; --Support Rating Floor 'No Floor'; --National Long-Term rating downgraded to 'A-(bra)' from 'A(bra)'; Outlook Negative; --National Short-Term rating affirmed at 'F2(bra)'; --Subordinated notes due 2019 & 2020 long-term foreign currency rating affirmed at 'B-'/'RR6'. BS2 --Long-Term Foreign and Local Currency IDRs affirmed at 'B+'; Outlook Stable; --Short-Term Foreign and Local Currency IDRs affirmed at 'B'; --Viability Rating affirmed at 'b+'; --Long-term National Rating affirmed at 'BBB(bra)'; Outlook Stable; --Short-Term National Rating affirmed at 'F3(bra)'; --Support Rating affirmed at '5'; --Support Rating Floor affirmed at 'NF'. Banco Pine S.A. --Long-Term Foreign and Local Currency IDRs affirmed at 'B+'; Outlook Negative; --Short-Term Foreign and Local Currency IDRs affirmed at 'B'; --Long-term National Rating affirmed at 'BBB+(bra)'; Outlook Negative; --Short-Term National Rating affirmed at 'F2(bra)'; --Viability Rating affirmed at 'b+'; --Support Rating affirmed at '5'; --Support Rating Floor affirmed at 'NF'; --Huaso Bonds Program expiring in 2022 affirmed at 'BBB-(cl)'; Outlook Negative; --Huaso Bonds due Dec. 10, 2017 affirmed at 'BBB-(cl)'; Outlook Negative. Inter --Long-Term National Rating affirmed at 'BBB(bra)'; Outlook Revised to Positive from Stable; --Short-Term National Rating affirmed at 'F3(bra)'; Rendimento --Long-Term National Rating affirmed at 'A-(bra)'; Outlook Stable; --Short-Term National Rating affirmed at 'F2(bra)'; Triangulo --Long-Term National Rating upgraded to 'A(bra)' from 'A-(bra)'; Outlook Stable; --Short-Term National Rating upgraded to 'F1(bra)' from 'F2(bra)'; BR Partners --Long-Term National Rating affirmed at 'BBB+(bra)'; Outlook Stable; --Short-Term National Rating affirmed at 'F2(bra)'. Contact: Raphael Nascimento (Primary: BS2, Secondary: Fator) Associate Director +55 11 3957-3664 Fitch Ratings Brasil Ltda. Alameda Santos 700 Sao Paulo, Brazil Robert Stoll (Primary: BMG, Pine) Director +1-212-908-9155 Pedro Gomes (Primary: Rendimento, Triangulo/ Secondary: BMG) Director +55 11 4504-2604 Esin Celasun (Primary: Fator/ Secondary: BS2) Director +55 21 4503-2626 Pedro Carvalho (Primary: Inter / Secondary: Triangulo) Analyst +55 21 4503-2602 Claudio Gallina (Secondary: Inter/ Secondary: Pine) Senior Director +55 11 4504-2216 Jean Lopes (Primary: BR Partners / Secondary: Rendimento) Director +55 21 4503-2617 Committee Chairperson Alejandro Garcia Managing Director +1-212-908-9137 Media Relations: Jaqueline Carvalho, Rio de Janeiro, Tel: +55 21 4503 2623, Email:; Benjamin Rippey, New York, Tel: +1 646 582 4588, Email: Additional information is available on ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: here. 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