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BULLETIN: Bank Polska Kasa Opieki Ratings Unaffected By Watch Placement Of UniCredito Italiano Jun 05
Standard & Poors, June 2005
Abstract
LONDON (Standard & Poor's) June 17, 2005--Standard & Poor's Ratings Services said today that the ratings and outlook on Poland-based Bank Polska Kasa Opieki S.A. (Bank Pekao; BBB/Positive/A-2) are unaffected by the placement on May 31, 2005, of the 'AA-/A-1+' ratings on leading Italian bank UniCredito Italiano SpA (UniCredito) on CreditWatch with negative implications. UniCredito owns a controlling 53.05% share of Bank Pekao's stock. The ratings on Bank Pekao are also unaffected by the potential in-country merger of Bank Pekao with Bank BPH Spolka Akcyjna S.A. (BPH; BBBpi). BPH is indirectly owned by Germany's Bayerische Hypo- und Vereinsbank AG (HVB; A-/Watch Pos/A-2), which UniCredito is acquiring. The rating on BPH is also unaffected by the placement of HVB on CreditWatch...
Companies mentioned in this report are: Bank Polska Kasa Opieki S.A.,UniCredit SpA,Bank BPH S.A.,UniCredit Bank AG
Action: Bulletin
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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