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Artesia Banking Corp. S.A. Rated 'A'/'A-1'; Outlook Stable May 99
Standard & Poors, May 1999
Abstract
PARIS (Standard & Poor's CreditWire) May 28, 1999--Standard & Poor's today assigned its single-'A' long-term and 'A-1' short-term ratings to Artesia Banking Corp. S.A. (Artesia BC). The outlook is stable. At the same time, Standard & Poor's withdrew its single-'A' long-term and 'A-1' short-term ratings on BACOB Bank S.C. (BACOB). (See list below for all rating actions). These rating actions follow the restructuring of the group, which will take effect on May 31, 1999. On this date, BACOB will transfer all of its banking activities to its subsidiary, Artesia BC, which will become the main operating entity of the group. In 1997, BACOB acquired a majority stake in Artesia BC (at the time called Paribas Belgique) from Paribas. As the...
Companies mentioned in this report are: Dexia Bank S.A.,Dexia Financial Products, Inc.,Dexia Overseas Ltd.
Action: New Rating
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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