Standard and Poor’s upgrads Brazil

Standard and Poor’s upgraded Brazil’s rating as an acknowledgment of the commitment to “meeting fiscal targets”. Brazil’s long-term ratings are now:BBB (sovereign) and A- (local currency).According to  ITAU UNIBANCO, “moving further up would require “vigorous” reforms.” S&P remarked remaining risks: “poor inflation control, fiscal largesse, and a swell in lending by state banks.” S&P’s decision follows similar moves by FitchContinue reading “Standard and Poor’s upgrads Brazil”

Itau Surpasses Goldman Sachs in Brazilian Bond Underwriting

July 13 (Bloomberg) — Itau Unibanco Holding SA overtook Citigroup Inc. and Goldman Sachs Group Inc. in Brazilian bond underwriting, leading a push by local banks to grab market share from international banks hurt by the global financial crisis. Itau, the country’s largest bank by market value, jumped four spots this year to become theContinue reading “Itau Surpasses Goldman Sachs in Brazilian Bond Underwriting”