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Banca Nazionale del Lavoro SpA CreditWatch To Developing; Unipol Still On CreditWatch Negative Jul 05
Standard & Poors, July 2005
Abstract
MILAN (Standard & Poor's) July 19, 2005--Standard & Poor's Ratings Services said today that it had revised the CreditWatch implications on its 'BBB+' long-term and 'A-2' short-term counterparty credit ratings on Italian bank Banca Nazionale del Lavoro SpA (BNL) to developing from positive. Standard & Poor's 'A-' long-term counterparty credit and insurer financial strength ratings on Compagnia Assicuratrice Unipol SpA (Unipol) remain on CreditWatch with negative implications. The revision of the CreditWatch status on BNL follows the announcement by Unipol that it will launch a mandatory offer for 59% of BNL's ordinary capital. The ratings on BNL were first placed on CreditWatch following the announcement by Banco Bilbao Vizcaya Argentaria, S.A. (BBVA; AA-/Stable/A-1+) of a possible public bid to acquire...
Companies mentioned in this report are: Banca Nazionale del Lavoro SpA (former),Unipol Gruppo Finanziario SpA,Banco Bilbao Vizcaya Argentaria S.A.
Action: CreditWatch Update
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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