|
|
 |
|
Viewing report
|
|
|
|
Asahi Bank In Bad Loan Disposal Tie-Up With Goldman Sachs; Ratings Remain on Watch Negative
Standard & Poors, Nov 2001
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
TOKYO (Standard & Poor's) Nov. 12, 2001--Standard & Poor's said today that its triple-'B' long-term and 'A-2' short-term ratings on Asahi Bank Ltd. remain on CreditWatch with negative implications following the announcement of a plan to reduce the bank's bad loans through a tie-up with Goldman Sachs Group Inc. (A+/Negative/A-1+). Under the plan, Asahi and Goldman Sachs will establish two entities, a distressed loan purchasing company and a servicer company, to write off and restructure part of Asahi's problem loans. The loan purchasing company will be a wholly owned subsidiary of Goldman Sachs, in which Asahi will make investments in the form of preferred instruments. Asahi intends to capture incremental profits beyond the price at which its bad loans are...
Companies mentioned in this report are: Asahi Bank Ltd.,Goldman Sachs Group Inc. (The)
Action: CreditWatch Update
|
|
|
|
