Sao Paulo, December 20, 2016 -- Moody's América Latina Ltda. (MAL) has today downgraded CCB Brasil Arrendamento Mercantil S.A.'s (CCB Brazil Leasing) long-term global local-currency issuer rating to Ba1, from Baa3. At the same time, Moody's affirmed the long-term Brazilian national scale issuer rating of Aaa.br. The outlook on CCB Brazil Leasing's ratings remains negative.

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