|Bid||52.45 x 0|
|Ask||52.49 x 0|
|Day's Range||51.11 - 52.50|
|52 Week Range||25.89 - 55.91|
|Beta (3Y Monthly)||1.89|
|PE Ratio (TTM)||10.57|
|Earnings Date||Aug 8, 2019|
|Forward Dividend & Yield||1.33 (2.54%)|
|1y Target Est||46.13|
The Chief Executive Officer of state-controlled Banco do Brasil SA, Rubem Novaes, said on Wednesday that the bank has around 4 billion reais ($1.03 billion) in unsecured debt with construction conglomerate Odebrecht SA, which filed for bankruptcy this week. "We have set aside provisions for most of the loans," Novaes said, adding that Banco do Brasil will suffer losses if creditors' debts are discounted at more than 50% in the restructuring. With debts of 98.5 billion reais, Odebrecht's bankruptcy protection case is one of the largest in Latin American history.
Brazil's largest pension fund Previ intends to be an active investor in a series of upcoming share offerings as part of an effort to diversify its portfolio, its Chief Executive Jose Mauricio Coelho told Reuters. Brazilian companies such as Petrobras Distribuidora SA , software producer Linx SA, Banco BTG Pactual SA and utility CPFL Energia SA, among others, plan to sell shares over the next two months, as investors bet a pension reform will be approved by year-end, accelerating economic growth.
Odebrecht SA's failure to sell its controlling stake in petrochemical company Braskem SA to LyondellBasell Industries NV and lack of cash are complicating the task of restructuring 80 billion reais ($20.67 billion) in debt owed by the corruption-ensnared conglomerate, three sources with knowledge of the matter said. The conglomerate was counting on Braskem dividends to service its debt. LyondellBasell said on Tuesday it ended talks with Odebrecht SA to buy Braskem "after careful consideration" but did not elaborate further.
The country’s four biggest publicly-traded banks - Itau Unibanco Holding SA, Banco Santander Brasil SA, Banco do Brasil SA and Banco Bradesco SA - completed their best quarter since 2015, according to data analysis firm Economatica. On top of that, they padded profits even as policy makers held the benchmark rate at a record low and forged ahead with efforts to lower banking spreads and boost competition.
Moody's America Latina ("Moody's") assigned today Aaa.br National Scale corporate family rating to Cielo S.A.("Cielo") and a Ba1/Aaa.br rating to Cielo S.A. proposed BRL 3.0 billion senior unsecured debentures. The rating of the proposed debentures assumes that the final transaction documents will not be materially different from draft legal documentation reviewed by Moody's to date and assume that these agreements are legally valid, binding and enforceable. Cielo S.A.'s (Cielo) Ba1/Aaa.br rating reflects its dominant position in the Brazilian payment card industry and broad footprint in the large Brazilian territory.
State-controlled lender Banco do Brasil SA sees fiercer competition with financial startups as likely to reduce the country's average credit margins in the coming quarters, CEO Rubem Novaes told journalists ...
Rating Action: Moody's upgrades CSN's ratings to B2; stable outlook. Global Credit Research- 29 Apr 2019. New York, April 29, 2019-- Moody's Investors Service upgraded to B2 from B3 the ratings assigned ...
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Banco Patagonia S.A. New York, April 25, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Banco Patagonia S.A. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Brazil's antitrust watchdog Cade is investigating four banks in the country for allegedly creating competition hurdles to digital banking newcomer Nubank, the watchdog said in a statement on Monday. Cade said Banco do Brasil SA, Caixa Economica Federal, Banco Santander Brasil SA and Banco Bradesco SA were denying requests to schedule automatic payments from Nubank clients that also were account holders at those banks. It said the banks would be given a chance to defend themselves and then the case would be sent to the Cade's Administrative Court, which would give a final ruling.
Moody's Investors Service ("Moody's") assigned a B3 rating to the $750 million proposed senior unsecured notes due up to 7 years to be issued by CSN Resources S.A. and unconditionally guaranteed by Companhia Siderurgica Nacional (CSN) (B3 stable). The proposed issuance is part of CSN's liability management strategy and proceeds will be used to fund a tender offer of $750 million for CSN's notes maturing in 2019 and 2020.
Banco do Brasil SA Chief Executive Officer Rubem Novaes expects infrastructure investors to increase their allocation in Brazil after the approval of pension reform. Speaking at an investment conference ...
Moody's Investors Service ("Moody's") has today affirmed all of Banco Votorantim S.A.'s (BV) ratings, following the affirmation of the bank's ba3 baseline credit assessment (BCA). BV is rated Ba2 and Not Prime for long- and short-term local currency deposits, Ba3 and Not Prime for long- and short-term foreign currency deposits. Banco Votorantim S.A. (Nassau Branch)'s long-term senior unsecured foreign currency debt rating is affirmed at (P) Ba2.
Brazilian power company Neoenergia SA has picked the investment banking units of JPMorgan Chase & Co, Bank of America Corp and Banco do Brasil SA to manage its initial public offering, three people familiar with the matter said on Wednesday. Other banks may still join the group managing the IPO, added one of the sources, who asked for anonymity to discuss the plans openly. Neoenergia, JPMorgan, Bank of America and Banco do Brasil declined to comment.
Brazil's Economy Minister Paulo Guedes said on Friday that pension reform must deliver at least 1 trillion reais in savings in order to fund a transition from the current system to individual retirement ...
State-controlled lender Banco do Brasil SA on Wednesday is pricing $750 million in five-year bonds, a source with knowledge of the matter said on Wednesday. Banco do Brasil is expecting to pay around 5 ...
Moody's Investors Service (Moody's) has today assigned a Ba2 long-term foreign currency senior debt rating to the proposed senior unsecured notes of Banco do Brasil S.A. (BB), acting through its Grand Cayman branch. For ratings issued on a support provider, this announcement provides certain regulatory disclosures in relation to the credit rating action on the support provider and in relation to each particular credit rating action for securities that derive their credit ratings from the support provider's credit rating.
SAO PAULO/BRASILIA, March 11 (Reuters) - State-controlled lender Banco do Brasil SA is seeking partnerships in its asset management, investment banking and debt collector units rather than listing these businesses, analysts said in notes to clients on Monday. Itaú BBA's analysts said that Chief Finance Officer Carlos Hamilton Vasconcelos Araújo said in a meeting that partnerships would be similar to those forged by BB Seguridade SA, before its initial public offering. BB Seguridade has partnerships with companies such as Principal Financial Group, Mapfre and Icatu Hartford.
SAO PAULO/BRASILIA, March 11 (Reuters) - Shareholders of Neoenergia SA will soon seek advisers to relaunch an initial public offering (IPO) by the Brazilian power company controlled by Spain's Iberdrola, a person with knowledge of the matter said on Monday. Minority partners Banco do Brasil and Brazilian pension fund Previ intend to partially sell their shares in the offering, added the source. Banco do Brasil and Previ declined to comment on the matter.