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Artesia Banking Corp. Ratings Raised to 'AA/A-1+' as Dexia Completes Takeover; Off CreditWatch Jul 01
Standard & Poors, July 2001
Abstract
PARIS (Standard & Poor's CreditWire) July 3, 2001--Following completion of Franco-Belgian financial services group Dexia's friendly all-share takeover of Artesia Banking Corp. S.A. (Artesia BC), Belgium's fifth-largest bank, Standard & Poor's today raised all its ratings on Artesia BC and related entities, including Artesia BC's long- and short-term counterparty credit ratings to double-'A' and 'A-1'-plus from single-'A' and 'A-1'. At the same time, all the ratings on Artesia BC and related entities were removed from CreditWatch, where they had been placed with positive implications on March 14, 2001. The outlook on Artesia BC is stable. (See list below for all ratings affected.) The upgrade equalizes the ratings on Artesia BC with those of Dexia's main operating banks. Standard & Poor's...
Companies mentioned in this report are: Dexia Bank S.A.,Dexia Banque Belgique,Dexia Financial Products, Inc.,Dexia Overseas Ltd.
Action: Upgraded, Off CreditWatch
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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