...The IDRs and National Ratings of Banco Pec·nia S.A. (Pec·nia) 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 Outlook), and Brazilian operations' importance to the head office. SG has opened longer funding lines to Pec·nia at lower costs, while maintaining close supervision of the bank, as shown by its centralised treasury. The Individual Rating reflects its small size, high delinquency ratios, and the challenge to revert its weak results in a recessionary environment, while provisioning expenses should continue to deteriorate results. + ...
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