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Banca Nazionale del Lavoro SpA CreditWatch Implications Revised To Negative From Developing Jul 05
Standard & Poors, July 2005
Abstract
MILAN (Standard & Poor's) July 27, 2005--Standard & Poor's Ratings Services said today that it revised its CreditWatch implications on the 'BBB+' long-term and 'A-2' short-term counterparty credit ratings on Italy's Banca Nazionale del Lavoro SpA (BNL) to negative from developing. The ratings were initially placed on CreditWatch with positive implications on March 21, 2005, and the implications were revised to developing on July 19, 2005. 'The CreditWatch revision follows the failure of the public bid by Banco Bilbao Vizcaya Argentaria to acquire the 85.28% of BNL's capital that it did not already own,' said Standard & Poor's credit analyst Renato Panichi. The bid expired July 22, 2005. The ratings on BNL were first placed on CreditWatch with positive implications...
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
Action: Outlook: Negative
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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