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S&P withdraws ratings on Banco Original

S&P Global Ratings on March 30 affirmed and subsequently withdrew its ratings on Banco Original SA at the company's request.

The Brazilian bank's withdrawal request comes just over a week after the rating agency warned that Banco Original could continue to see asset deterioration due to the "challenging economic situation" in Brazil.

At the time of the ratings withdrawal, Banco Original's long- and short-term counterparty credit ratings stood at brBBB and brA-3, respectively. The long-term rating carried a negative outlook.

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