Fitch: Banco Daycoval's Ratings Unaffected by Tender Offer for Delisting

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SAO PAULO & NEW YORK--(BUSINESS WIRE)--Fitch Ratings considers Banco Daycoval's decision to delist the bank and buy back the 61.6 million of its free-floating shares as neutral to its ratings. See the full list of ratings at the end of this press release. On June 24, 2015, Banco Daycoval's (Daycoval: 'BBB-' Issuer Default Rating) controlling group announced it intends to take full control and delist the bank through a tender offer to repurchase the publicly traded shares (free-float), which rep

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