New York, February 05, 2016 -- Moody's Investors Service has today downgraded the long-term local- and foreign-currency deposit ratings of Banco Mercantil do Brasil S.A. (BMB) to B3 from B2. Moody's also downgraded BMB's long-term Brazilian national scale deposit rating to B1.br from Ba2.br, the long-term foreign currency senior unsecured medium term note program to (P)B3 from (P)B2, and the long-term foreign currency subordinated debt rating to Caa1 from B3. At the same time, Moody's downgraded BMB's baseline credit assessment (BCA) and adjusted BCA to b3 from b2, and its long-term Counterparty Risk Assessment (CRA) to B2(cr) from B1(cr). Moody's affirmed all short-term ratings and assessments assigned to BMB. The outlook on all ratings remains negative.

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