Moody’s downgrades Brazil’s Mercantil

Moody’s downgrades Brazil’s Mercantil

Corporate & Sovereign Strategy

Moody’s cut the long term foreign currency debt rating on Banco Mercantil do Brasil to B1, from Ba2, on Thursday, citing an increase of bad loans at the bank. It also cut the sub debt rating to B2, from Ba3. Moody’s cited a “sharp deterioration” in a

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