Fitch rates Brazil's USD3.25 billion 2025 bonds 'BBB'

Reuters

NEW YORK, October 24 (Fitch) Fitch Ratings has assigned a 'BBB' rating to

Brazil's USD3.25 billion bond issuance maturing in 2025. The bonds have a coupon

rate of 4.25%.

The proceeds will be used, in part, to purchase securities maturing between 2017

and 2030, and for general budgetary purposes.

KEY RATING DRIVERS

The rating is in line with Brazil's long-term foreign currency Issuer Default

Rating (IDR) of 'BBB', which has a Stable Outlook.

RATING SENSITIVITIES

The rating would be sensitive to any changes in Brazil's long-term foreign

currency IDR. Fitch affirmed Brazil's ratings at 'BBB' with Stable Outlook on

July 18, 2013.

Contact:

Primary Analyst

Shelly Shetty

Senior Director

+1-212-908-0358

Fitch Ratings, Inc.

One State Street Plaza

New York, NY 10004

Secondary Analyst

Erich Arispe

Director

+1-212-908-9165

Committee Chairperson

Ed Parker

Managing Director

+1-44-203-530-1176

Media Relations: Elizabeth Fogerty, New York, Tel: +1 (212) 908 0526, Email:

elizabeth.fogerty@fitchratings.com.

Additional information is available at 'www.fitchratings.com'.

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PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK:

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DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S

PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND

METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF

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SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS

SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED

ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH

WEBSITE.

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