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Atrium European Real Estate 'BB/B' Ratings Placed On CreditWatch Negative On Information Risk And Legal Dispute Jan 11
Standard & Poors, Jan 2011
Abstract
Atrium European Real Estate Ltd. (Atrium) did not provide us with what we view as material information in a timely manner regarding an unpaid interest payment of -537,000 on an unrated bond in November 2010. The bond was issued to Meinl Bank in 2008. We also see a potential risk that an ongoing legal dispute between Atrium and Meinl Bank could have an adverse bearing on Atrium's credit quality. We are therefore placing the 'BB' long-term and 'B' short-term corporate credit ratings on Atrium on CreditWatch negative. The CreditWatch negative placement reflects the possibility of a multi-notch downgrade. LONDON (Standard & Poor's) Jan. 31, 2011--Standard & Poor's Ratings Services said today that it placed its 'BB' long-term and 'B' short-term...
Companies mentioned in this report are: Atrium European Real Estate Ltd.
Action: On CreditWatch:Negative
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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