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Artesia Banking Corp. S.A. Oct 01
Standard & Poors, Oct 2001
Abstract
The ratings on Artesia Banking Corp. S.A. (Artesia BC) reflect its full ownership by Franco-Belgian group Dexia, whose main operating banks are rated AA/Stable/A-1+. Standard & Poor's believes that Artesia BC's all-share takeover by Dexia in July 2001 is fully consistent with the latter's strategy of building up its core business lines, particularly retail banking in Belgium. Operational integration of Artesia BC within Dexia's Belgium-based bank, Dexia Banque Belgique (DBB), will be strengthened with the expected merger of these entities in the first half of 2002. The resulting entity will rank among the top three bancassureurs in Belgium. Artesia BC's and DBB's branch networks will be merged and will operate under the DBB brand name. While the procedure may prove...
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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