Banco BMG S.A. (BMG) holds multiple credit ratings from Fitch Ratings, reflecting its financial health and stability. As of the most recent update on October 13, 2023, its Long-Term National rating is 'A-(bra)', its Short-Term National rating is 'F2', and its Long-Term Foreign and Local Currency Issuer Default Ratings (IDR) are 'B+'.
Understanding BMG Bank's Current Credit Ratings
Fitch Ratings provides a comprehensive assessment of Banco BMG S.A.'s creditworthiness through various rating categories. These ratings offer insights into the bank's ability to meet its financial obligations both domestically and internationally.
Key Ratings Overview
The following table summarizes BMG Bank's recent credit ratings as assessed by Fitch Ratings:
| Rating Type | Current Rating | Previous Rating | Status | Date of Update | Rating Agency |
|---|---|---|---|---|---|
| Long-Term National Rating | A-(bra) | A(bra) | Downgraded | Oct 13, 2023 | Fitch Ratings |
| Short-Term National Rating | F2 | F1 | Downgraded | Oct 13, 2023 | Fitch Ratings |
| Long-Term Foreign and Local Currency IDR | B+ | B+ | Affirmed | Oct 13, 2023 | Fitch Ratings |
The recent update by Fitch Ratings saw a downgrade in BMG's Long-Term and Short-Term National ratings. This indicates a revised view on the bank's credit risk within Brazil. Conversely, the Long-Term Foreign and Local Currency Issuer Default Ratings (IDR) were affirmed at 'B+', signifying no change in the agency's assessment of BMG's ability to meet its international obligations.
For more detailed information on credit ratings and methodologies, you can refer to reports from reputable rating agencies like Fitch Ratings.
