News Column

Moody's upgrades foreign currency deposit ratings of three Uruguayan banks

June 3, 2014



Moody's Investors Service has today upgraded

the long- and short-term global foreign-currency deposit ratings of Banco

de la Repתblica Oriental del Uruguay S.A. (BROU), Banco Itaת Uruguay

S.A. (Itaת Uruguay) and Banco Hipotecario del Uruguay (BHU) to Baa2/Prime

2, from Baa3/Prime 3. Moody's has also upgraded the national scale

foreign currency deposit ratings for these banks to Aaa.uy from Aa1.uy.

The outlook on all the ratings is stable.

The rating actions follow Moody's upgrade of Uruguay's sovereign ratings,

including the government bond rating and the country ceilings for bonds

and deposits, in local and foreign currency. Please refer to "Moody's

upgrades Uruguay's government bond rating to Baa2; stable outlook"

announced on May 29th, 2014.

The following ratings were upgraded:

Banco de la Repתblica Oriental del Uruguay S.A.

- Global Foreign Currency Deposit rating to Baa2/Prime 2, from Baa3/Prime

3, stable outlook

- National Scale Foreign currency Deposit rating to Aaa.uy from Aa1.uy

Banco Itaת Uruguay S.A.

- Global Foreign Currency Deposit rating to Baa2/Prime 2, from Baa3/Prime

3, stable outlook

- National Scale Foreign currency Deposit rating to Aaa.uy from Aa1.uy

Banco Hipotecario del Uruguay

- Global Foreign Currency Deposit rating to Baa2/Prime 2, from Baa3/Prime

3, stable outlook

- National Scale Foreign currency Deposit rating to Aaa.uy from Aa1.uy


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Source: EMBIN (Emerging Markets Business Information News)


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