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Fitch withdraws asset manager rating for HSBC Gestao de Recursos

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Fitch withdraws asset manager rating for HSBC Gestao de Recursos

Fitch Ratings on Oct. 10 withdrew HSBC Gestao de Recursos Ltda.'s "highest standards"asset manager rating noting that it will no longer provide ratings or analyticalcoverage for the business.

The withdrawal is due to the business unit's reorganization andthe incorporation of itsparent company, HSBC Bank Brasil SA- Banco Múltiplo, by BancoBradesco SA.