Banco de Desenvolvimento de Minas Gerais S.A. -- Moody's América Latina downgrades BDMG's ratings; outlook changed to stable

Sao Paulo, August 12, 2015 -- Moody's América Latina Ltda has downgraded the long-term local currency issuer ratings on Banco de Desenvolvimento de Minas Gerais S.A. (BDMG) to Ba1 from Baa3, and its short-term local currency issuer ratings to Not Prime from Prime-3, following the downgrade of the issuer rating assigned to its regional government, the State of Minas Gerais, to Ba1, from Baa3. The outlook on the rating was changed to stable, from negative, in line with the stable outlook of the rating of State of Minas Gerais. At the same time, Moody's also affirmed BDMG's Brazilian long-term national scale issuer rating at Aa1.br and short-term national scale issuer rating at BR-1. The baseline credit assessment (BCA) of ba1 assigned to BDMG remained unchanged.

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