New York, August 18, 2014 -- Moody's Investors Service has affirmed Banco Pan S.A.'s (PAN) standalone bank financial strength rating (BFSR) of E+, which maps to a baseline credit assessment (BCA) of b1; long- and short-term global local- and foreign-currency deposit ratings of Ba2 and Not Prime, respectively; long-term foreign-currency senior unsecured rating of Ba2; long-term foreign-currency subordinated debt rating of Ba3; and long- and short-term Brazilian national scale deposit ratings of A1.br and BR-1, respectively. The outlook on all ratings is stable.
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