Standard & Poor's Upgrades PINE's Rating in Two Notches on Global Scale, to BB+, and in Three Notches on National Scale, to brAA

SAO PAULO, Dec. 8, 2011 /PRNewswire/ -- PINE (BM&FBovespa: PINE4), a wholesale bank specialized in corporate banking, announces that Standard & Poor's upgraded PINE's rating on global scale in two notches, to BB+ from BB-, and also raised in three notches the national scale rating to brAA from brA. The outlook in both scales is stable.

The agency based its ratings on the strong asset-quality, adequate liquidity, capital and earnings. S&P also emphasizes the gradual funding diversification, through foreign issuances, securitizations and the recent capital increase subscribed by DEG.

PINE believes this is another recognition of the success of its strategy of building close and long-term relationship with companies, striving for the addition of value to clients, shareholders, employees and investors.

For additional information, contact PINE's IR department
Tel. +55 11 3372-5553
[email protected]

SOURCE PINE