BRIEF-Emergent Capital announces supplement no. 1 to exchange offer
* Emergent Capital announces supplement no. 1 to exchange offer Source text for Eikon: Further company coverage:
MILAN, March 17 Credit rating agency Fitch cut Italy's Banca Popolare di Vicenza long-term rating on Friday to "CCC", citing the possibility that the regional bank may have to impose losses on investors holding its senior bonds as part of a bailout plan.
The bank is expected to request state aid to fill a capital shortfall through a so-called precautionary recapitalisation as early as Friday, two sources close to the matter have told Reuters.
Fitch, which previously has a B- rating for the bank, said in a statement there was a "real possibility" senior bondholders would be hit if the lender does not receive cash from the state and the conversion or write-downs of junior debt is not sufficient to boost capital, the rating agency said. (Reporting by Francesca Landini)
RIO DE JANEIRO/BRASILIA, May 26 Maria Silvia Bastos resigned on Friday as head of Brazil's development bank BNDES amid a political crisis that had increased pressure against her by credit-starved business leaders.
RIO DE JANEIRO, May 26 The incoming head of Brazil's state development bank BNDES said on Friday he will not have a special focus on loans disbursed by the previous management.