Banco Rural S.A. -- Moody's downgrades Banco Rural's ratings; maintains review

Sao Paulo, June 12, 2013 -- Moody's Investors Service downgraded to E, from E+, the bank financial strength rating (BFSR) assigned to Banco Rural S.A. (Rural) and lowered its unsupported baseline credit assessment (BCA) to caa1, from b3. Moody's also downgraded Rural's long-term global local and foreign currency deposit ratings to Caa1, from B3, and long-term Brazilian national scale deposit rating to Caa1.br, from B1.br. The short-term local and foreign currency deposit ratings of Not Prime and the short-term Brazilian national scale deposit rating of BR-4 remained unchanged. Moody's also maintained the review for possible downgrade on Rural's supported deposit ratings, while the BFSR carries a stable outlook.

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