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Bulletin: Bendigo Bank, Adelaide Bank Outlooks Stay Positive On Merger Approval By Shareholders Nov 07
Standard & Poors, Nov 2007
Abstract
MELBOURNE (Standard & Poor's) Nov. 12, 2007--Standard & Poor's Ratings Services said today that the Adelaide Bank Ltd. shareholders' approval on the proposed merger between Adelaide Bank and Bendigo Bank Ltd. (Bendigo Bank) has no rating impact on the 'BBB+' long-term and 'A-2' short-term ratings on Bendigo Bank and Adelaide Bank. At the same time, the rating outlooks on both banks remain positive. With the successful merger approval by Adelaide Bank's shareholders earlier today, implementation of the merger is now subject to final approval from the Federal Court of Australia, which is expected to be completed by the end of November 2007. Standard & Poor's expects to revert the outlooks on Bendigo Bank and Adelaide Bank to stable if the...
Companies mentioned in this report are: Bendigo and Adelaide Bank Ltd.,Adelaide Bank Ltd.,Rural Bank Ltd.
Action: Bulletin
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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