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Banco Patagonia (Uruguay) S.A. I.F.E. Moody s downgrades Patagonia Uruguay s ratings, outlook stable
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Rating Action: Moody s downgrades Patagonia Uruguay s ratings, outlook stableGlobal Credit Research - 01 Mar 2021New York, March 01, 2021 Moody s Investors Service, ( Moody s ) has downgraded to B2, from Ba3, Banco Patagonia (Uruguay) S.A. I.F.E. s (Patagonia Uruguay) long-term global local and foreign currency deposit ratings, following the downgrade of the bank s baseline credit assessment (BCA) to b3, from b1. All of the bank s short-term ratings and assessments were affirmed. The outlook on the ratings remains stable.A full list of the affected ratings and assessments is provided at the end of this press release.RATINGS RATIONALEThe downgrade of Patagonia Uruguay s BCA, and its deposit ratings, reflects our view that capital metrics will likely remain well below historic levels following net losses of USD8.9 million resulting from impairing an ongoin
UBS Joint Venture Reaches Deal With Banco Patagonia in Argentina
This content was published on February 9, 2021 - 12:30
February 9, 2021 - 12:30
(Bloomberg) UBS BB Investment Bank, a joint venture between UBS Group AG and Banco do Brasil SA for South America, reached a collaboration agreement with Argentina’s Banco Patagonia SA.
The deal includes investment-banking businesses such as merger-and-acquisition advising and debt and equity trading and underwriting, according to the companies. It will provide clients of UBS BB services in Argentina, while Patagonia’s customers get access to international investors, foreign corporates and global markets.
“We are among the five biggest in Argentina local markets, and now we aim to become No. 1 or 2,” Banco Patagonia President Joao Pecego said in an interview.
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Today, UBS BB Investment Bank ( UBS BB ) and Banco Patagonia announced an agreement to provide clients in Argentina with enhanced access to leading investment banking services and international capital markets, in accordance with applicable regulatory requirements. The agreement combines UBS BB s global and regional platform and experience with Banco Patagonia s robust capabilities and strong relationships across Argentina.
Working together, UBS BB, through its subsidiary UBS Trading S.A.U., and Banco Patagonia will be positioned to become a top provider of investment banking services in Argentina, with one of the most extensive coverage footprints in the country. The agreement will also expand client access to M&A and advisory services, international debt and equity capital markets, and a broad global network of corporates and investors.
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