The rating on Banco Bradesco S.A. incorporates the bank's prominence in the Brazilian banking industry, strong franchise as one of the most diversified retail banks in Latin America, stable and capable management, and adequate funding and liquidity. However, a weakening in its asset quality, challenging operating conditions, and more local competition partially offset these strengths. With total assets of Brazilian reais (R$) 482 billion ($247 billion) as of June 2009, Bradesco ranks as the No. 2 private-sector bank in Latin America. The bank's above-average franchise and good market position in several banking segments in Brazil support its strong intrinsic creditworthiness. It has widely diversified assets and deposits, and a history of deposit stability and strong liquidity. Bradesco is well positioned
