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Bulletin: Bank Lippo Ratings Unaffected By Proposed Plan To Merge With Bank Niaga
Standard & Poors, Dec 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
SINGAPORE (Standard & Poor's) Dec. 28, 2007--Standard & Poor's Ratings Services said today that its ratings and outlook on Indonesia's PT Lippo Bank Tbk (Bank Lippo; B+/Stable/B) will remain unchanged following the announcement that Khazanah Nasional Berhad's (Khazanah) proposed plans to merge Bank Lippo with PT Bank Niaga Tbk (Bank Niaga) to comply with Bank Indonesia's Single Presence Policy. Khazanah currently has an indirect equity interest of about 93% in Bank Lippo through Santubong Investments BV and Creatville Pte. Ltd. and an indirect equity interest of about 64% in Bank Niaga through Bumiputra-Commerce Holdings Berhad (BCHB; BBB-/Stable/A-3). While Standard & Poor's expects the proposed merger to create a bank with stronger market position and competitiveness in the Indonesian banking sector...
Companies mentioned in this report are: PT Bank CIMB Niaga Tbk. (Unsolicited Ratings),CIMB Group Holding Bhd.
Action: Bulletin
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