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BULLETIN: UBS AG Ratings Unaffected By The Acquisition Of Banco Pactual May 06
Standard & Poors, May 2006
Abstract
LONDON (Standard & Poor's) May 9, 2006--Standard & Poor's Ratings Services said today that its ratings on UBS AG (AA+/Stable/A-1+) are not affected by the bank's announced agreement to acquire Brazilian investment bank Banco Pactual (not rated). Pactual--for which UBS will pay $2.5 billion--is a leading investment bank and asset manager in Brazil. The transaction will build UBS' emerging markets presence and its fixed income business, while adding to both onshore and offshore assets under management. Of the consideration, $1 billion is due immediately, and the rest in five years' time, depending on performance. While most of the total will represent goodwill, the acquisition is not expected to adversely impact UBS' solid capital position, underpinned as it is by its...
Companies mentioned in this report are: UBS AG
Action: Bulletin
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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