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Bulletin: Svenska Handelsbanken Ratings Unchanged By Bid For Denmark-Based Lokalbanken
Standard & Poors, Sep 2008
Abstract
STOCKHOLM (Standard & Poor's) Sept. 15, 2008--Standard & Poor's Ratings Services said today that its ratings and outlook on Svenska Handelsbanken (AA-/Stable/A-1+) remain unchanged following its Danish Krone (DKK) 810 million (-109 million at DKK 7.46 per -1) bid for Lokalbanken i Nordsjaelland A/S (Lokalbanken, not rated). Lokalbanken is a small Danish bank, based north of Copenhagen. It has 14 branches, DKK 4 billion of lending (-536 million), mainly in retail but also exposure to local trade, manufacturing and property companies. The bank has DKK3.4 billion in deposits and very little international funding. If successful, the acquisition would slightly increase Handelsbanken's presence in Denmark. Nevertheless, given the limited size of the proposed transaction, it will only add 0.4% to the...
Companies mentioned in this report are: Svenska Handelsbanken
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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