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Banca Popolare di Intra 'BB/B' Ratings Remain On Watch Pos Pending Merger Approval Mar 07
Standard & Poors, March 2007
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.
Abstract
MILAN (Standard & Poor's) March 16, 2007--Standard & Poor's Ratings Services today maintained its 'BB' long-term and 'B' short-term counterparty credit ratings on Italy-based Banca Popolare di Intra SCPA (Intra) on CreditWatch with positive implications, where they were placed on Sept. 29, 2006, on the proposed offer for Intra by Veneto Banca SCPA (BBB+/Watch Neg/A-2). 'If Intra's extraordinary shareholder meeting, planned for March 24, 2007, approves the acquisition and change of its legal status to a 'societ- per azioni,' we will raise ratings on Intra to 'BBB+/A-2' and the outlook will be stable,' said Standard & Poor's credit analyst Taos Fudji. The upgrade would reflect the benefit of becoming strongly integrated into a financially strong banking group. Intra would be...
Companies mentioned in this report are: Banca Popolare di Intra SCPA,Veneto Banca S.C.P.A.
Action: CreditWatch Update
Action: On CreditWatch:Positive
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