OREANDA-NEWS. Fitch Ratings has affirmed and withdrawn Banco Cacique S.A. (Cacique) and Banco Pecunia S.A.'s (Pecunia) international and national scale ratings.

At the time of the withdrawal, the Rating Outlook for the long-term local and foreign currency Issuer Default Ratings (IDRs) of both banks was Negative due to the constraints from Brazil's sovereign ratings (long-term local and foreign currency IDR 'BBB'/Negative Outlook). The Outlook for the long-term national ratings was Stable Outlook as these are not affected by the sovereign's Outlook.

A full list of rating actions follows at the end of this press release.

Fitch has withdrawn Cacique and Pecunia's ratings, as both banks decided to stop participating in the rating process and therefore Fitch will not have sufficient information to monitor the ratings. Accordingly, Fitch will no longer provide ratings or analytical coverage for Cacique and Pecunia.

At the time of the withdrawal, Cacique and Pecunia's ratings were based on expected support from their ultimate parent Societe Generale (SG, long-term IDR 'A'/Outlook Stable). The loan books of both banks are being run-off since the first quarter of 2015.

RATING SENSITIVITIES
Not applicable.

Fitch has affirmed and withdrawn the following ratings:

Cacique:
--Foreign currency long-term IDR 'BBB+', Outlook Negative;
--Local currency long-term IDR 'A-', Outlook Negative;
--Foreign currency short-term IDR 'F2';
--Local currency short-term IDR 'F1';
--Support rating '2';
--National long-term rating 'AAA(bra)', Outlook Stable;
--National short-term rating 'F1+(bra)'.

Pecunia:
--Foreign currency long-term IDR 'BBB+', Outlook Negative;
--Local currency long-term IDR 'A-', Outlook Negative;
--Foreign currency short-term IDR 'F2';
--Local currency short-term IDR 'F1';
--Support rating '2';
--National long-term rating 'AAA(bra)', Outlook Stable;
--National short-term rating 'F1+(bra)'.