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 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.
Product Type: Research Update
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