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Research Update: Russian Standard Bank 'B/C' Ratings Remain on Watch Positive Pending Transaction Resolution Dec 04 Product Image

Research Update: Russian Standard Bank 'B/C' Ratings Remain on Watch Positive Pending Transaction Resolution Dec 04

  • ID: 1827024
  • December 2004
  • Region: Russia
  • Standard & Poors

FEATURED COMPANIES

  • BNP Paribas
  • Russian Standard Bank JSC
  • MORE

Abstract
On Dec. 23, 2004, Standard & Poor's Ratings Services said that its 'B' long-term and 'C' short-term counterparty credit ratings on Russia-based Russian Standard Bank ZAO (Russian Standard) remained on CreditWatch with positive implications, where they were placed on July 28, 2004. The ratings were placed on CreditWatch following the announcement that France-based Cetelem (AA/Stable/A-1+), a key consumer finance subsidiary of BNP Paribas (AA/Stable/A-1+), had agreed to acquire a stake in Russian Standard that would give it equal ownership rights with the current majority owner, Roust Trading Ltd. The proposed transaction has run into difficulties, however, and it is uncertain whether it will completed. The ratings will remain on CreditWatch until the situation is resolved. Although Standard & Poor's does...

Companies mentioned in this report are:
- Russian Standard Bank JSC
- BNP Paribas
- BNP Paribas Personal Finance

Action: CreditWatch Update

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance READ MORE >

- Russian Standard Bank JSC
- BNP Paribas
- BNP Paribas Personal Finance

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