Sao Paulo, March 25, 2015 -- Moody's América Latina Ltda. downgrades the ratings of the senior shares issued by BV Financeira -- Fundo de Investimento em Direitos Creditórios I (FIDC BV I) to Ba3 (sf) from Ba1 (sf) on the global scale and to A2.br (sf) from Aa2.br (sf). Immediately following the rating actions, Moody's will withdraw the ratings because it believes it has insufficient or otherwise inadequate information to support the maintenance of the ratings.
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