Banco do Brasil default rate driven up by Novonor, says source

BRASILIA, Feb 13 (Reuters) - Banco do Brasil's 90-day delinquency ratio was hit in its fourth quarter by a 3.6 billion reais ($689.27 million) default by engineering group Novonor, a source with knowledge of the matter said on Friday, requesting anonymity because of confidentiality restrictions.

In its latest earnings report, Banco do Brasil had said that a single corporate exposure helped push its default ratio to 5.17%, adding that without this impact the ratio would have stood at 4.88%. The lender did not name the company, citing bank secrecy rules.

($1 = 5.2229 reais)