Strategy shift towards less risky business segments; and Adequate liquidity to cope with cash outflows over the next 12 months. Capitalization at risk of reaching the minimum regulatory capital ratio; Concentrated business profile compared with the industry average; and Track record of high credit losses compared to peers. The negative outlook for the next 12 months reflects S&P Global Ratings' view that Banco Fibra S.A.'s financial profile could further weaken, bearing down on its capital and liquidity position amid slow activity and challenging conditions in Brazil's economy. We expect the bank's asset quality to remain weaker than those of peers in the next two years, which should continue pressuring the bank's results. We also expect Fibra to maintain regulatory capitalization
