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LaSalle Bank Corp. 'A+/A-1' Ratings Placed On CreditWatch With Positive Implications Apr 07

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Abstract
TORONTO (Standard & Poor's) April 23, 2007--Standard & Poor's Ratings Services said today that it placed its 'A+/A-1' counterparty credit rating on LaSalle Bank Corp. and those of its subsidiaries on CreditWatch with positive implications. This action follows the announcement that LaSalle will be acquired by the higher rated Bank of America Corp. (BofA; AA/Stable/A-1+). LaSalle enjoys a well-positioned middle-market commercial franchise. Its consumer and small business units are more challenged by the intense competitive environment and the highly fragmented nature of LaSalle's footprint, which is only exacerbated by the unfavorable macroeconomic condition of a flat/inverted yield curve. "The combination of LaSalle's franchise with BofA's resources should result in growth opportunities for all of the LaSalle business units, driven by...

Companies mentioned in this report are: LaSalle Bank Corporation,Bank of America Corp.
Action: On CreditWatch:Positive

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.

Companies Mentioned

LaSalle Bank Corporation,Bank of America Corp.

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LaSalle Bank Corp. 'A+/A-1' Ratings Placed On CreditWatch With Positive Implications Apr 07

Fax order form

Order information

Product name

Web Address

Office Code

Report Formats

Contact information

Please fax this form to: (646) 607-1907 or (646) 964-6609 (from USA) +353-1-481-1716 or +353-1-653-1571 (from Rest of World)

Payment information

Please fax this form to: (646) 607-1907 or (646) 964-6609 (from USA) +353-1-481-1716 or +353-1-653-1571 (from Rest of World)

Please fax this form to:
(646) 607-1907 or (646) 964-6609 (from USA)
+353-1-481-1716 or +353-1-653-1571 (from Rest of World)

Please fax this form to:
(646) 607-1907 or (646) 964-6609 (from USA)
+353-1-481-1716 or +353-1-653-1571 (from Rest of World)