Fitch upgrades banks

Credit rating agency Fitch Ratings has today upgraded the long-term foreign and local currency ratings of Brazilian banks to B+ from B with a stable outlook, the agency said in a statement. The outlook for the long-term local and foreign currency rating of Banco Santos was changed to stable from positive; all other ratings remain unchanged. At the same time, Fitch has also upgraded the insurer financial strength rating of Bradesco Seguros to B+ from B, with a stable outlook. This rating action follows today's upgrade of Brazil's sovereign rating to B+ from B. For a full copy of the report, please see: http://www.bnamericas.com/rc_search_detail.xsql?id_documento=41293&Tx_idioma=I