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Artesia Banking Corp. S.A. Mar 01
Standard & Poors, March 2001
Abstract
The ratings on Artesia Banking Corp. S.A. (Artesia BC) are on CreditWatch with positive implications following the announcement on March 13, 2001, of a euro (Eur) 3.3 billion friendly all-share takeover bid by Franco-Belgian financial group Dexia. Until this announcement, the ratings on Artesia BC reflected the bank's strong position in the Belgian retail market, low-risk credit profile, good liquidity, and adequate capitalization. These strengths are, however, offset by the bank's exposure to interest rate fluctuations and its moderate profitability. With total consolidated assets of Eur75.5 billion at year-end 2000, Artesia BC is the fifth-largest banking group in Belgium. The group is essentially composed of BACOB Bank N.V. (BACOB), engaged in the core business of retail banking; Artesia BC, focused...
Companies mentioned in this report are: Dexia Bank S.A.,Dexia Overseas Ltd.
Action: Review
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: Full Analysis
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