The Business Times
The Business Times
Subscribe
Share on FacebookShare on TwitterView more
The Business Times
Create a free account with Business Times for seamless access across SPH Media products.
REGISTER
LOGIN

Companies & Markets

SUBSCRIBERS

Brazil's BTG loses investment grade rating

Published Wed, Dec 2, 2015 · 09:50 PM
Share this article.

Sao Paulo

MOODY'S Investors Service stripped Brazil's troubled Banco BTG Pactual SA of its investment-grade rating on Tuesday as confidence in the investment bank's future and its bonds slumped following the arrest of its founder André Esteves in a corruption probe.

Moody's downgraded BTG two notches to BA2 from BAA3 because of the challenges the bank faces to maintain its liquidity in the wake of the arrest of its former chairman and CEO, the rating agency said.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Banking & Finance

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here