NEW YORK/SAO PAULO--(BUSINESS WIRE)--Fitch Ratings has affirmed and withdrawn its ratings for Banco Votorantim S.A. (Votorantim) at 'BB-'/Negative Outlook, and BV Leasing - Arrendamento Mercantil S.A.s (BV Leasing) issuance at 'A+(bra)'. See a full list of rating actions at the end of this release.
Fitch is withdrawing the ratings as Votorantim and BV Leasing have chosen to stop participating in the rating process. Fitch will no longer have sufficient information to maintain the ratings and, accordingly, will no longer provide ratings or analytical coverage for Votorantim and BV Leasing.
RATING SENSITIVITIES
Ratings Sensitivities are not applicable, as the ratings have been withdrawn.
The following ratings were affirmed and withdrawn:
Banco Votorantim S.A.
--Long Term Foreign and Local Currency IDRs of 'BB-'/Outlook Negative;
--Short-Term Foreign and Local Currency IDRs of 'B';
--National Scale Long-Term rating of 'AA-(bra)'/Outlook Negative;
--National Scale Short-Term rating of 'F1+(bra)';
--Viability Rating of 'bb-';
--Support Rating of '3'.
BV Leasing - Arrendamento Mercantil S.A.
--National Scale Long-Term rating of 'A+(bra)' on issuance maturing 2026.
Additional information is available at 'www.fitchratings.com'
Applicable Criteria
Global Bank Rating Criteria (pub. 15 Jul 2016)
https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=884135
Global Non-Bank Financial Institutions Rating Criteria (pub. 15 Jul 2016)
https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=884128
National Scale Ratings Criteria (pub. 30 Oct 2013)
https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=720082
Additional Disclosures
Dodd-Frank Rating Information Disclosure Form
https://www.fitchratings.com/creditdesk/press_releases/content/ridf_frame.cfm?pr_id=1009265
Solicitation Status
https://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=1009265
Endorsement Policy
https://www.fitchratings.com/jsp/creditdesk/PolicyRegulation.faces?context=2&detail=31
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