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March 12, 2008 |
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BANCO BMG: Moody's Rates ST Note Programme & LT Senior Notes Ba1 Moody's Investors Service assigned long and short-term foreign currency ratings of Ba1 and Not Prime, respectively, to Banco BMG S.A.'s US$1,000,000,000 Short-Term Note Programme. Moody's also assigned a Ba1 long-term foreign currency debt rating to the senior unsecured notes due March 2010 issued under the program in the amount of US$250,000,000. The outlook on the ratings is stable. These ratings were assigned to Banco BMG SA: -- US$1 billion STN Programme: Long and short-term foreign- currency rating of Ba1/Not Prime, stable outlook. -- US$250 million 2-year Senior Unsecured Notes: Long-term foreign currency debt rating of Ba1, stable outlook. Headquartered in Minas Gerais, Brazil, Banco BMG is the banking arm of Grupo BMG, which also has real estate, food manufacturing and agro industry holdings. It also offers leasing and asset management services. Banco BMG had BRL6.60 billion (approximately US$3.86 billion) in total assets and BRL1.33 billion in equity (US$778 million) as of year-end 2007. |
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