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BULLETIN: China Development Financial Holding Co., SinoPac Holdings May Merge Jun 03
Standard & Poors, June 2003
Abstract
HONG KONG (Standard & Poor's) June 6, 2003--Standard & Poor's Ratings Services said today that it had no immediate plans to revise its ratings on China Development Financial Holding Co. (BBB+/Stable/A-2) or SinoPac Holdings (BB+/Stable/B) or their subsidiaries as a result of tentative plans to merge the two companies until more concrete details, including financing plans, become available. It also said it had no immediate plans to revise its ratings on Grand Commercial Bank (BB/Negative/B), Chinatrust Financial Holding Co. (BBB-/Stable/A-3), or SinoPac Holdings in view of a possible acquisition of Grand Commercial Bank by either Chinatrust Financial Holding Co. or SinoPac Holdings. A key analytical factor will be whether any of the prospective mergers or acquisitions will place any of...
Companies mentioned in this report are: China Development Financial Holding Corp.,Grand Commercial Bank,Chinatrust Financial Holding Co.,SinoPac Holdings
Action: S&P Event
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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