BTG Pactual Cut to Junk by Moody's Following Esteves's Arrest

Updated on
  • Rating company keeps bank on review for further downgrades
  • BTG bond yields soared following arrest of then-CEO last week

BTG Pactual SA’s Partners Take Control of the Bank

Banco BTG Pactual SA had its credit grade cut to junk by Moody’s Investors Service on concern that the investment bank will struggle to keep enough cash on hand and maintain its franchise following the arrest last week of its founder Andre Esteves.

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