Moody's assigns first-time ratings to Banco PSA Finance unit

- Monday, December 5, 2011

Moody's assigns first-time ratings to Banco PSA Finance unit

Moody's has assigned a bank financial strength rating (BFSR) of D- to Banco PSA Finance Brasil, with a stable outlook, a press release from the ratings agency reads.

The agency also assigned Ba1 and Not Prime long and short-term global local currency deposit ratings for the entity, as well as long and short-term foreign currency deposit ratings of Ba1 and Not Prime.

Moody's also assigned the bank Aa2.br and BR-1 long and short-term local currency deposit ratings on the Brazilian national scale. The outlook on all the ratings is stable.

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Moody's said its ratings for Banco PSA take into account its business franchise as a full financial agent for PSA Peugeot & Citroën in Brazil, which in turn has a commercial and strategic dependence on its parent, Banque PSA Finance, as part of the PSA Peugeot - Citroën Group of France.

Banco PSA is headquartered in São Paulo with unconsolidated assets of some US$1.04bn as of June 2011.

To read the full report in English, go to this link

To read the full report in Portuguese, go to this link