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Moody's puts CCB Brasil Arrendamento Mercantil on review for downgrade

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Moody's puts CCB Brasil Arrendamento Mercantil on review for downgrade

Moody's on Oct. 11 placed on review for downgrade the Ba1 long-term global local-currency issuer rating of CCB Brasil Arrendamento Mercantil SA as well as its long-term Brazilian national scale issuer rating of Aaa.br.

The company's outlook was changed to rating under review from negative.

The review reflects a similar downgrade review that was placed on the ratings of CCB Brasil's parent, China Construction Bank (Brasil) Banco Múltiplo SA, due to the delayed publishing of audited financials for the six months ending June 2017.

Moody's said its review could result in a downgrade if the parent company continues to have difficulty in maintaining the minimum capital levels required by authorities, since CCB Brasil is entirely reliant on the bank for its operations.