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Bulgarian JetFinance Ratings Raised To 'BBB-/A-3'; Off CreditWatch Positive; Outlook Stable Jan 08
Standard & Poors, Jan 2008
Abstract
LONDON (Standard & Poor's) Jan. 28, 2008--Standard & Poor's Ratings Services said today that it raised its long- and short-term counterparty credit ratings on Bulgaria-based JetFinance International AD (JetFinance) to 'BBB-/A-3' from 'B+/B'. At the same time, the long- and short-term counterparty credit ratings were removed from CreditWatch where they had been placed with positive implications on Aug. 7, 2007. The outlook is stable. The upgrade follows the completion in November 2007 of the acquisition, and the onset of integration, of JetFinance by BNP Paribas (AA+/Stable/A-1+) through its consumer finance subsidiary, Cetelem (AA+/Stable/A-1+). 'JetFinance is now part of the new BNP Paribas Personal Finance business and the vehicle through which Cetelem's consumer credit and mortgages business operates within Bulgaria,' said...
Companies mentioned in this report are: BNP Paribas Personal Finance EAD,BNP Paribas,BNP Paribas Personal Finance
Action: Affirmed
Action: Outlook: Stable
Action: Regulatory Rating
Action: Upgraded
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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