Sao Paulo, August 02, 2013 -- Moody's Investors Service has today downgraded Banco Industrial and Comercial S.A.'s (BICBANCO) global local- and foreign-currency deposit ratings to Ba1 and Not Prime, from Baa3 and Prime-3, long- and short-term, respectively. Moody's also lowered BICBANCO's standalone baseline credit assessment (BCA) to ba1, from baa3, and confirmed the bank financial strength rating of D+. At the same time, Moody's also downgraded the long-term foreign-currency senior unsecured debt rating to Ba1, from Baa3, the long-term foreign-currency subordinated debt rating to Ba2, from Ba1, and the long-term Brazilian national scale deposit rating to Aa2.br, from Aa1.br. The short-term Brazilian national scale deposit rating of BR-1 was not affected by the rating action. Moody's also placed a negative outlook on all ratings.

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