NEW YORK--(BUSINESS WIRE)--Brazilian non-bank financial institutions (NBFIs) are seeing increased benefits from issuing certificates of deposit called "Letras de Cambio" (LCs), says Fitch Ratings. LCs are diversifying NBFIs' funding sources, extending the average tenor of liabilities, and improving overall asset-liability management. LCs are being issued by medium and small commercial lenders with tenors up to five years, with average maturities of about two years and no limit on issuance amoun