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Troubled Brazilian midsize bank Panamericano has released a securities filing denying recent press reports on its finances and ownership talks.
The bank said that press reports saying its 2.5bn-real (US$1.51bn) capital injection from its semi-controller conglomerate, the Silvio Santos group, in November had not been sufficient were premature and that accounting work was still ongoing to determine the institution's health.
Panamericano administration has confirmed that talks may be proceeding for control of the institution, but no deal has been finalized yet.
Moody's gave Banco BMG, which agreed to buy an insurance company in January and has made other moves in recent months, a Ba2 foreign currency debt rating on its proposed senior unsecured notes.
A statement from Moody's said the notes would be denominated in Brazilian reais and due in February 2014. The rating outlook is negative.
Brazilian securities exchange Bovespa and the biggest bank in the country, federally controlled Banco do Brasil (BB), have signed an MOU to improve corporate governance and capital markets, the two said in a joint statement.
BB will focus on its work via its private equity program, and the two will try to encourage companies listed on Bovespa to move up to the more prestigious and reputable Bovespa Mais and Novo Mercado corporate governance standards.