Research Update: Russian Standard Bank ZAO 'B/C' Ratings Removed From Watch and Affirmed; Outlook Stable Jan 05
- ID: 1828281
- January 2005
- Region: Russia
- Standard & Poors
On Jan. 27, 2005, Standard & Poor's Ratings Services removed from CreditWatch and affirmed its 'B/C' long- and short-term counterparty credit ratings on Russia-based Russian Standard Bank ZAO (Russian Standard). The outlook is stable. The ratings were placed on CreditWatch on July 28, 2004, 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 rating action reflects Cetelem's announcement on Jan. 26, 2005, that it has abandoned its planned acquisition of a stake in Russian Standard. The ratings on Russian Standard are constrained by: the high risks of operating...
Companies mentioned in this report are:
- Russian Standard Bank JSC
- BNP Paribas
- BNP Paribas Personal Finance
Action: Outlook: Stable
Action: Removed From CreditWatch
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Product Type: Research Update
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