Sao Paulo, September 13, 2013 -- Moody's Investors Service has today raised Banco Pine S.A.'s (Pine) baseline credit assessment (BCA) to ba1, from ba2, and upgraded the bank's long-term global local and foreign currency deposit ratings to Ba1, from Ba2. At the same time, Moody's also upgraded the long-term foreign-currency senior unsecured debt rating to Ba1, from Ba2, the long-term foreign-currency subordinated debt rating to Ba2, from Ba3, and the long-term Brazilian national scale deposit rating to Aa2.br, from A1.br. Pine's bank financial strength was also upgraded to D+, from D. Moody's affirmed the short-term global local and foreign currency deposit ratings at Not Prime and the short-term Brazilian national scale deposit rating of BR-1. The outlook on all ratings is now stable.

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