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Bendigo Bank, Bank of Queensland Outlooks Revised To Stable After Merger Proposal Rejection Jun 07
Standard & Poors, June 2007
Abstract
MELBOURNE (Standard & Poor's) June 22, 2007--Standard & Poor's Ratings Services said today that it had affirmed its 'BBB+/A-2' ratings on Bank of Queensland Ltd. (BoQ) and Bendigo Bank Ltd., and revised the outlook to stable from positive on each entity. These rating actions follow the announcement by BoQ yesterday that BoQ's revised proposal for a merger with Bendigo Bank had been subsequently rejected by Bendigo Bank. The board of BoQ also stated that it will not be pursuing the merger any further. 'This is consistent with Standard & Poor's initial announcement on March 20, 2007 that the rating outlooks for both banks will revert to stable if the merger does not proceed,' said Standard & Poor's credit analyst Thomas...
Companies mentioned in this report are: Bank of Queensland Ltd.,Bendigo and Adelaide Bank Ltd.,Rural Bank Ltd.
Action: Affirmed
Action: Outlook: Stable
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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