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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.
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