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Article: BOLIVIA: MOODY'S RATES BANCO GANADERO'S DEBT ISSUANCE.
- Article from:
- IPR Strategic Business Information Database
- Article date:
- December 30, 2008
CopyrightCOPYRIGHT 2008 Info-Prod (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Moody's Latin America assigned an Aa3.bo National Scale debt rating to Banco Ganadero's subordinated debt program amounting to US$ 10 million. The Aa3.bo Bolivia's national scale debt rating was also assigned to the first expected issuance of the program, worth US$ 5 million. At the same time, Moody's Investors Service assigned a B2 global foreign-currency debt rating to both the program and its first issuance. The outlook on all ratings is stable. Moody's noted that subordination was taken into consideration in the assignment of the debt rating. Subordinated debt is usually rated one notch below the global local currency senior rating. However since ...