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S&P affirms Banco ABC Brasil ratings

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S&P affirms Banco ABC Brasil ratings

S&P Global Ratings on Oct. 11 affirmed its BB/B global scale and brAA-/brA-1+ national scale ratings on Banco ABC Brasil SA.

The ratings reflect the bank's "bb" stand-alone credit profile, which is based on its concentrated business lines and small market-share, yet stable operating revenues. S&P also considered its forecast risk-adjusted capital ratio for the bank of about 7.0% for the next two years, along with sound asset quality, conservative risk management, less diversified funding base than the industry average and adequate liquidity.

S&P also views the bank as a strategically important subsidiary for Arab Banking Corp.

The outlook is negative, reflecting that of Brazil's sovereign ratings.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.