Citi downgrades BBAS3 to sell, BBDC4 neutral, prefers ITUB4 after Brazil election

Citi revised its ratings on major Brazilian banks following the election, downgrading BBAS3 to sell due to asset quality concerns, especially in agribusiness-linked portfolios, and setting BBDC4 to neutral while preferring ITUB4. The move reflects post-election risk reassessment in Brazil's banking sector.

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