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Fitch withdraws ratings on Banco do Brasil's Chilean unit

Fitch Ratings on Jan. 13 withdrew Banco do Brasil SA - Sucursal Chile's BBB+(cl) long-term and N2(cl) short-term deposit national ratings due to commercial reasons.

A subsidiary of Banco do Brasil SA, the Chile-based bank provides financing of bilateral business loans and working capital operations to local companies and subsidiaries of its parent's corporate clients. Prior to their withdrawal, the ratings reflected those of the bank's parent, which is at BB- with a stable outlook.