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Bulletin: Ratings On Dexia S.A.'s Banks Not Immediately Affected By Liquidity Support To Subsidiary FSA Jun 08
Standard & Poors, June 2008
Abstract
MILAN (Standard & Poor's) June 24, 2008--Standard & Poor's Ratings Services said today that Franco-Belgian financial services group Dexia S.A.'s announced US$5 billion committed, unsecured standby line of credit to bond insurance subsidiary Financial Security Assurance Inc. (FSA; AAA/Stable/--) has no immediate impact on the ratings and outlooks on Dexia's main operating banks: Dexia Cr-dit Local, Dexia Bank S.A., and Dexia Banque Internationale - Luxembourg (all AA/Stable/A-1+). The standby line of credit, combined with the US$500 million capital injection in February 2008, highlights Dexia's continuous strong commitment to FSA. However, this increase in Dexia's financial exposure to FSA could weigh on its creditworthiness if the subsidiary faces severe financial difficulties. As we explain in our outlook in our analysis on...
Companies mentioned in this report are: Banque Internationale a Luxembourg,Dexia Credit Local,Dexia Bank S.A.
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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