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The Moody’s Local Brasil rating agency has upgraded Banrisul’s issuer and long-term deposit ratings from A+.br to AA-.br. The short-term deposit rating was reaffirmed at ML A-1.br. The outlook remained stable.
Among the reasons for the upgrade, the agency highlights the bank’s history of resilient operations, even amid regional challenges. Furthermore, Moody’s considers the preservation of high capital levels, even in the face of significant growth in assets, and the maintenance of broad access to deposit capture as positive points.
Banrisul’s vice president, Luiz Gonzaga Veras Mota, states that the recognition is the result of management’s efforts to overcome the challenges of the last year. “This achievement reflects Banrisul’s commitment to financial solidity and the trust of our customers,” he emphasized.
Moody’s, an American company founded in 1909, provides international financial research on securities issued by commercial and government entities. Along with Standard & Poor’s and Fitch Group, Moody’s is considered one of the big three global credit rating agencies.