March 27, 2008   BANCO CRUZEIRO: Moody's Rates US$30 Million Senior Notes at Ba1 Moody's Investors Service assigned a Ba1 long-term foreign  currency debt rating to Banco Cruzeiro do Sul S.A.'s existing  US$30,000,000 senior unsecured notes due in May 2010.  The notes  were issued under the bank's US$1,000,000,000 Global Euro  Medium-Term Note Program.  The outlook on the rating is stable. This rating was assigned to the bank's US$30 million senior  unsecured debt due in May 2010:    -- Global Long-Term Foreign Currency Debt Rating: Ba1, stable       outlook  Banco Cruzeiro had unconsolidated assets of BRL4,310 million and  equity of BRL1,047.6 million as of December 2007. Headquartered in Sao Paulo, Brazil, Banco Cruzeiro do Sul SA  (Bovespa - CZRS4) -- http://www.bcsul.com.br/ -- is a private- sector multiple bank with operations in the consumer segment,  through paycheck-deductible loans to public employees and social  security beneficiaries, and in the corporate segment, offering  middle-market companies short-term loans usually backed by  receivables.  The bank's core business is lending to civil  servants, with payments automatically deducted from payrolls.
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