Banif Banco de Investimento (Brasil) S.A. -- Moody's downgrades Banif Banco de Investimento (Brasil)'s ratings; reviews for further downgrade

Sao Paulo, December 13, 2012 -- Moody's Investors Service today downgraded Banif Banco de Investimento (Brasil) S.A.'s (Banif Investimento) standalone financial strength rating (BFSR) to E, from E+, and lowered its standalone baseline credit assessment to caa2 from b3. Moody's also downgraded the bank's long-term global local and foreign currency deposit ratings to Caa2, from B2, and the long- and short-term Brazilian national scale deposit ratings to Caa2.br and BR-4, from Ba1.br and BR-3, respectively. The short-term local and foreign currency deposit ratings of Not Prime remained unchanged. All the long-term deposit ratings are on review for possible further downgrade, while the outlook on the BFSR is stable.

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