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Article: Fitch: No Effect to Sul America Rtgs from Banco do Brasil's Intention to Buy Brasilveiculos' Shares.
- Article from:
- Business Wire
- Article date:
- October 13, 2009
CopyrightCOPYRIGHT 2009 Business Wire. 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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MONTERREY, Mexico -- Fitch Ratings believes that a potential sale of Sul America S.A.'s (Sasa) stake in Brasilveiculos Companhia de Seguros (Brasilveiculos) to Banco do Brasil S.A. (BB) should not affect the ratings currently assigned to Sasa.
In Fitch's opinion, Sasa's operating efficiency and profitability ratios should remain in line with its current ratings, despite the expected reduction in its auto insurance operations. The ratings already consider the concentration of distribution channels, especially in the auto segment, and the possibility of losing some of them. In addition, Fitch believes that the expansion of the company's health business, which is ...