Bradesco Tier-2 Bond Gets BBB

Bradesco Tier-2 Bond Gets BBB

Structured Finance

Fitch has assigned a BBB rating to 2019 Tier-2 bonds to be issued by Bradesco, it says. The agency will assign the hybrid securities 75% equity credit, and for this reason rates the issue below the bank’s default rating of BBB+. “Bradesco has historically maintained adequate capitalization ratios and the bank will use the proceeds from the planned issue to replenish its regulatory Tier II capital as existing debt instruments mature, or its remaining maturities fall below minimum regula

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