• SELECT SITE CURRENCY
Select a currency for use throughout the site
Dexia Bank's Upper Tier 2 Instrument Lowered To 'CC' On Upcoming Deferral Of Coupon, Placed On CreditWatch Negative Nov 09
Standard & Poors, November 2009
Dexia Bank said on Nov. 9, 2009, that it would not pay the next coupon, due Nov. 18, 2009, on a ?228.674 million Upper Tier 2 instrument. We are lowering the rating on the instrument to 'CC' from 'B'. The negative CreditWatch implications reflect that we would further lower the rating to 'C' on the day Dexia Bank defers coupon payment. MILAN (Standard & Poor's) Nov. 10, 2009--Standard & Poor's Ratings Services said today that it has lowered to 'CC' from 'B' its junior subordinated debt rating on ?228.674 million in Upper Tier 2 securities that Dexia Bank S.A. has issued. We are also placing the rating on CreditWatch with negative implications. This rating action does not affect the counterparty...
Companies mentioned in this report are:
- Belfius Bank
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.
- Belfius Bank