Banco BMG S.A. -- Moody's downgrades Banco BMG's ratings to B1 from Ba3, maintains negative outlook

Sao Paulo, December 14, 2012 -- Moody's Investors Service has today downgraded Banco BMG S.A. (BMG)'s standalone bank financial strength rating (BFSR) to E+ from D-, and lowered its baseline credit assessment to b1, from ba3. The long-term global local and foreign currency deposit ratings were downgraded to B1 from Ba3, and the foreign currency senior and subordinated debt ratings were downgraded to B1 and B2, from Ba3 and B1, respectively. Moody's also lowered the long and short-term Brazilian national scale deposit ratings to Baa3.br and BR-3 from A3.br and BR-2, respectively. On the global scale, the short-term ratings remain unchanged.

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