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Banco De Oro Unibank Inc.'s Senior Unsecured Notes Assigned 'BB-' Unsolicited Rating Nov 10
Standard & Poors, Nov 2010
Abstract
SINGAPORE (Standard & Poor's) Nov. 3, 2010--Standard & Poor's Ratings Services said today that it had assigned its unsolicited 'BB-' issue rating to the senior unsecured notes by Banco De Oro Unibank Inc. (BDO; unsolicited ratings BB-/Stable/B). The notes have the following features: -- They constitute unsecured and unsubordinated obligations of the bank. -- They rank pari passu with all of the bank's unsecured and unsubordinated obligations. -- They rank ahead of all subordinated debt issues. -- They mature on April 22, 2016. -- BDO has the option to redeem the notes if it has or will become obliged to pay additional amounts on account of a change in tax laws that require the issuer to deduct tax. -- The...
Companies mentioned in this report are: Banco De Oro Unibank Inc. (Unsolicited Ratings)
Action: New Rating
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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