Banco Cacique S.A. - Credit Update - 2009/10/06 - Fitch Research

Report title: Banco Cacique S.A.

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5 page (4657 word) report published Oct 06, 2009

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...The IDRs and National Ratings of Banco Cacique S.A. (Cacique) reflect the support of its parent bank, Banco SociTtT GTnTrale Brasil S.A. (SGBr; IDR `BBB'/Stable), which is fully owned by SociTtT GTnTrale (SG; IDR `A+'/Stable), and its importance to head office at the Brazilian operation. SG has provided longer funding lines to Cacique at lower costs and maintained close supervision on the bank as shown by its centralised treasury and Cacique's board, which has two directors from SG. The Individual Rating reflects its modest size, high delinquency ratios and the challenge to revert its weak results in a recessionary environment, while provisioning expenses should continue to affect results. + ...

Report Type:

Credit Update

Company(ies):

Banco Cacique S.A.

Issuer:

Banco Cacique S.A.

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