Moody’S Raises Ratings Of 23 Financial Institutions In Brazil

(MENAFN- The Rio Times) Following the upgrade of Brazil's sovereign rating from 'Ba2' to 'Ba1' with a positive outlook, the credit rating agency Moody's has raised the ratings of 23 local financial institutions.
Below is the list of rating actions:

• Banco do Brasil: from Ba2 to Ba1, with positive outlook
  
• Itaú Unibanco: from Ba2 to Ba1, with positive outlook
  
• Itaú Unibanco Holding: from Ba2 to Ba1, with a positive outlook
  
• Banco Bradesco: from Ba2 to Ba1, with a positive outlook
  
• Santander Brasil: from Ba2 to Ba1, with positive outlook
  
• BNDES: from Ba2 to Ba1, with positive outlook
  
• BNDESPar: from Ba2 to Ba1, with positive outlook
  

• Caixa : from Ba2 to Ba1, with positive outlook
  
• Banco da Amazônia: from Ba2 to Ba1, with positive outlook
  
• Banco do Nordeste do Brasil (BNB ): from Ba2 to Ba1, with positive outlook
  
• BTG Pactual: from Ba2 to Ba1, with positive outlook
  
• Banco Safra: from Ba2 to Ba1, with a positive outlook
  
• Citibank Brasil: maintenance of long-term local and foreign currency deposit rating at
  
• Baa3 and upgrade from Ba2 to Ba1 of baseline credit assessments (BCA); outlook from
  
• stable to positive
  
• Sicredi: from Ba2 to Ba1, with positive outlook
  
• ABC Brasil: from Ba2 to Ba1, with positive outlook
  
• Banco Daycoval: from Ba2 to Ba1, with positive outlook
  
• Nubank: from Ba2 to Ba1, with stable outlook
  
• Nu Holdings: from Ba2 to Ba1, with positive outlook
  
• B3: from Ba1 to Baa3, with positive outlook
  
• BOCOM BBM: rating maintained at Baa3, with stable outlook
  
• Banco Mizuho do Brasil: rating maintained at Baa3, with stable outlook
  
• XP Inc.: from Ba2 to Ba1, with stable outlook
  
• Banco Modal: from Ba2 to Ba1, with stable outlook
  

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