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Bulletin: VR Leasing AG Ratings Not Immediately Affected By Potential Joint Venture With Banca Italease Oct 08
Standard & Poors, Oct 2008
Abstract
FRANKFURT (Standard & Poor's) Oct. 13, 2008--Standard & Poor's Ratings Services said today that its ratings on VR Leasing AG (VRL; A/Stable/A-1) are not immediately affected by the announcement of a potential joint venture with Italy-based Banca Italease (not rated) in the Italian leasing and factoring market. At this stage, we consider it uncertain whether the proposed joint venture will eventually take place and under what conditions. Based on information currently available, we expect that the ratings on VRL would continue to reflect its majority ownership by DZ BANK AG Deutsche Zentral-Genossenschaftsbank (A+/Stable/A-1), and eventually its growing integration into the German cooperative sector. The transaction would also fit into DZ BANK's strategy to gradually expand its product distribution into cooperative...
Companies mentioned in this report are: VR Leasing AG,DZ BANK AG Deutsche Zentral-Genossenschaftsbank
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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