...Government Support Drives Ratings: Banco da Amazonia S.A. (BASA) Issuer Default Ratings (IDRs) are driven by its Government Support Rating (GSR) of 'bb' and reflect the potential for support from the Brazilian authorities. The Stable Outlook on BASA's Long-Term IDRs mirrors the Outlook on the Brazilian sovereign rating (BB/Stable). BASA's 'AAA(bra)' Long-Term National Rating is based on potential support and reflects the bank's creditworthiness relative to other issuers in Brazil. We do not assign a Viability Rating to BASA due to its policy role. Fitch Ratings will continuously monitor whether the bank maintains its policy role with adequate corporate governance and without compromising the sustainability of its credit metrics. Moderate Ability to Support: BASA's GSR reflects a moderate probability of support from the Brazilian government. The sovereign's propensity to support the bank is high given BASA's key regional policy role and majority state ownership. However, the sovereign's...
