Moody's changes outlook to stable on 30 Brazilian banks and BM&FBovespa; affirms ratings

Moody's Investors Service has today changed the outlooks to stable, from negative, of certain ratings of 30 Brazilian banks and their affiliates and the Brazilian stock and futures exchange BM&FBovespa S.A.. In addition, Moody's affirmed all the affected ratings. These actions follow the change in outlook to stable, from negative, on Brazil's government bond rating of Ba2, on 15 March 2017.

Specifically, Moody's revised the outlooks on the issuer and local currency deposit and foreign currency senior unsecured debt ratings of 16 domestically-owned banks that are constrained by Brazil's sovereign rating, as well as those of several foreign-owned banks and BM&F Bovespa that are above the sovereign. Moody's also changed the outlooks on the long-term global foreign currency deposit ratings that are capped by Brazil's Ba3 foreign currency deposit ceiling. At the same time, Moody's affirmed the ratings and baseline credit assessments of 19 Brazilian banks.