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Some Global Banks Under Pressure From Brazil Turbulence Aug 02 Product Image

Some Global Banks Under Pressure From Brazil Turbulence Aug 02

  • Published: August 2002
  • Region: Global, Brazil
  • Standard & Poors

FEATURED COMPANIES

  • Banco Santander S.A.
  • Citigroup Inc.
  • HSBC Holdings PLC
  • Intesa Sanpaolo SpA
  • MORE

Abstract
NEW YORK (Standard & Poor's) Aug. 28, 2002--Although the exposure of most European and U.S. banks to Brazil is manageable and massive ratings actions across this group of banks are not expected, that country's turbulence adds negative ratings pressure to some financial institutions, said a new Standard & Poor's report released yesterday. On top of the list are Banco Santander Central Hispano S.A. and ABN AMRO Bank N.V. in Europe and FleetBoston Financial Corp. in the U.S. Banco Santander Central Hispano S.A's long term rating was downgraded by one notch last month, while the other two banks carry negative outlooks. "These three institutions run sizeable operations in Brazil and have committed substantial investments to Brazil, while their overall profitability and...

Companies mentioned in this report are:
- The Royal Bank of Scotland N.V.
- Banca Nazionale del Lavoro SpA (former)
- FleetBoston Financial Corp.
- Citigroup Inc.
- Banco Santander S.A.
- HSBC Holdings PLC
- Intesa Sanpaolo SpA
- Banco Bilbao Vizcaya Argentaria S.A.

Action: S&P Event

Standard and Poors RatingsXpress Credit Research provides in-depth coverage READ MORE >

- The Royal Bank of Scotland N.V.
- Banca Nazionale del Lavoro SpA (former)
- FleetBoston Financial Corp.
- Citigroup Inc.
- Banco Santander S.A.
- HSBC Holdings PLC
- Intesa Sanpaolo SpA
- Banco Bilbao Vizcaya Argentaria S.A.

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