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By clicking “I AGREE” [at the end of this document], you indicate that you understand and intend these terms and conditions to be the legal equivalent of a signed, written contract and equally binding, and that you accept such terms and conditions as a condition of viewing any and all Moody’s inform​ation that becomes accessible to you [after clicking “I AGREE”] (the “Information”).   References herein to “Moody’s” include Moody’s Corporation, Inc. and each of its subsidiaries and affiliates.

 

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Announcement:

Moody's changes Banco ABC Brasil's outlook to stable from negative

08 Mar 2012

New York, March 08, 2012 -- Moody's Investors Service has changed to stable, from negative, the outlook on Banco ABC Brasil S.A.'s (BAB), D+ bank financial strength rating (BFSR), the global local and foreign currency long-term deposit ratings of Baa3; the foreign-currency subordinated debt rating of Ba1; and the long-term Brazilian national scale deposit rating of Aa1.br. The outlook on BAB's short-term global and national scale deposit ratings of Prime 3 and BR-1, respectively, is stable and remain unchanged.

The outlook change follows the action on the ratings of BAB's parent bank, Arab Banking Corporation B.S.C. (ABC), published on March 5, 2012. For further details, please refer to the press release "Moody's changes Arab Banking Corporation (ABC)'s outlook to stable from negative". The action on ABC was prompt by the normalization of economic and political conditions in the middle east region, and more specifically in Bahrain and Libya, which were under stress last year.

The following ratings of Banco ABC Brasil S.A. had the outlook changed to stable from negative:

Bank financial strength rating of D+

Long-term global local currency deposit rating of Baa3

Long-term global foreign currency deposit rating of Baa3

Long-term Brazilian national scale rating of Aa1.br

Long-term foreign currency subordinated debt rating of Ba1

RATINGS RATIONALE

Moody's explained that the stable outlook on BAB's unsupported BFSR reflects the bank's long-track record of superior asset quality, when compared to peers at the same rating level, and consolidated position in corporate lending and trade finance business in Brazil. The rating also incorporates the structural vulnerability of a franchise that is largely wholesale funded, and thus, sensitive to volatility in investors' confidence, although there is no reliance on parent's funds. Management has concentrated efforts to increase the lengthening of funding mix which has resulted in higher costs compensated by the growing SME lending platform, a higher-yielding business. While BAB reported moderated loan growth in 2011 on the back of inflationary pressures and decelerating economic growth, management indicated that growth should accelerate this year, although under the bank's disciplined credit underwriting policies that have ensured stable asset quality. The bank's consistent financial performance that derives from a disciplined credit risk control, adequate liquidity structure and strong capital base, are the main drivers that sustain the franchise's steady business origination capacity.

Moody's noted that the Baa3 long-term global scale deposit rating maps directly from its Baa3 baseline credit assessment and does not incorporate any uplift of support from its parent bank because the parent's rating is currently Ba1.

Last rating action on Banco ABC Brasil took place on March 21, 2011, when Moody's changed the outlook to negative from stable on all ratings assigned to BAB, in response to negative outlook of the parent and the potential effects to the Brazilian subsidiary related to pressures arising from increased in risk aversion of investors to the region and to ABC's related banking business. The weakening of the parent's standalone financial strength was also a concern at the time.

The principal methodologies used in rating Banco ABC Brasil were Bank Financial Strength Ratings: Global Methodology published in February 2007, and Incorporation of Joint-Default Analysis into Moody's Bank Ratings: A Refined Methodology published in March, 2007. Other methodologies and factors that may have been considered in the process of rating these issuers can also be found on Moody's website.

Based in São Paulo, Banco ABC Brasil S.A. had total assets of approximately R$10.51 billion (US$5.64 billion) and equity of R$1.5 billion (US$805.2 million) as of December 31, 2011.

The Local Market analyst for this rating is Ceres Lisboa, +55 (11) 3043-7317

REGULATORY DISCLOSURES

Although this credit rating has been issued in a non-EU country which has not been recognized as endorsable at this date, this credit rating is deemed "EU qualified by extension" and may still be used by financial institutions for regulatory purposes until 30 April 2012. Further information on the EU endorsement status and on the Moody's office that has issued a particular Credit Rating is available on www.moodys.com.

For ratings issued on a program, series or category/class of debt, this announcement provides relevant regulatory disclosures in relation to each rating of a subsequently issued bond or note of the same series or category/class of debt or pursuant to a program for which the ratings are derived exclusively from existing ratings in accordance with Moody's rating practices. For ratings issued on a support provider, this announcement provides relevant regulatory disclosures in relation to the rating action on the support provider and in relation to each particular rating action for securities that derive their credit ratings from the support provider's credit rating. For provisional ratings, this announcement provides relevant regulatory disclosures in relation to the provisional rating assigned, and in relation to a definitive rating that may be assigned subsequent to the final issuance of the debt, in each case where the transaction structure and terms have not changed prior to the assignment of the definitive rating in a manner that would have affected the rating. For further information please see the ratings tab on the issuer/entity page for the respective issuer on www.moodys.com.

Moody's considers the quality of information available on the rated entity, obligation or credit satisfactory for the purposes of issuing a rating.

Moody's adopts all necessary measures so that the information it uses in assigning a rating is of sufficient quality and from sources Moody's considers to be reliable including, when appropriate, independent third-party sources. However, Moody's is not an auditor and cannot in every instance independently verify or validate information received in the rating process.

Please see Moody's Rating Symbols and Definitions on the Rating Process page on www.moodys.com for further information on the meaning of each rating category and the definition of default and recovery.

Please see ratings tab on the issuer/entity page on www.moodys.com for the last rating action and the rating history. The date on which some ratings were first released goes back to a time before Moody's ratings were fully digitized and accurate data may not be available. Consequently, Moody's provides a date that it believes is the most reliable and accurate based on the information that is available to it. Please see the ratings disclosure page on our website www.moodys.com for further information.

Please see www.moodys.com for any updates on changes to the lead rating analyst and to the Moody's legal entity that has issued the rating.

Jeanne Del Casino
VP - Senior Credit Officer
Financial Institutions Group
Moody's Investors Service, Inc.
250 Greenwich Street
New York, NY 10007
U.S.A.
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

M. Celina Vansetti
MD - Banking
Financial Institutions Group
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

Releasing Office:
Moody's Investors Service, Inc.
250 Greenwich Street
New York, NY 10007
U.S.A.
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

Moody's changes Banco ABC Brasil's outlook to stable from negative
No Related Data.
© 2021 Moody’s Corporation, Moody’s Investors Service, Inc., Moody’s Analytics, Inc. and/or their licensors and affiliates (collectively, “MOODY’S”). All rights reserved.

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MJKK and MSFJ also maintain policies and procedures to address Japanese regulatory requirements.

​
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