*Credit ratings agency Fitch has downgraded several Brazilian banks after cutting the country’s sovereign issuer rating last month. The agency lowered Bradesco’s rating from 'BB+' to 'BB'. The ratings for the state-owned Banco do Brasil (BB), Caixa Econômica Federal (CEF), and the national development bank (BNDES) have also been cut from 'BB' to 'BB-'. But overall, the outlook for Brazil's banking sector is stable based on the metrics of credit, capitalisation, funding, liquidity, and the profitability and quality of its assets, according to a statement issued by the agency.
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