Fitch Cuts BTG Pactual to Junk, Warns of Further Downgrades

  • Fitch follows Moody's, S&P in downgrading lender this week
  • Chairman Arida told clients bank is comfortable with liquidity

Banco BTG Pactual SA was cut to junk by Fitch Ratings, the third downgrade this week for the largest independent investment bank in Latin America as it confronts the fallout from the arrest of its billionaire founder Andre Esteves.

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