Sao Paulo, November 19, 2015 -- Today, Moody's América Latina Ltda (MAL) lowered Banco de Desenvolvimento de Minas Gerais S.A. (BDMG)'s baseline credit assessment (BCA) to ba2 from ba1 and downgraded its long-term national scale issuer rating to Aa2.br from Aa1.br. Simultaneously, MAL affirmed the local currency issuer ratings at Ba1 for long term and Not Prime for short term, both of which incorporate the support from its shareholder, the state of Minas Gerais (Ba1 stable). The outlook on the aforementioned ratings remains stable.
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