Panamericano on Watch Positive

Fitch revised its rating watch on Panamericano to positive from negative, following the announcement of the sale of a controlling stake in the Brazilian lender by Silvio Santos Group to BTG Pactual. The revision reflects potential support of BTG. Fitch says it expects Panamericano’s ratings to climb several notches once the deal goes through, though it will likely not match those of BTG or Caixa, its other controlling shareholders.