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Bulletin: Erste Bank 'A/A-1' Ratings Unchanged On Announced New Holding Structure Dec 06
Standard & Poors, Dec 2006
Abstract
FRANKFURT (Standard & Poor's) Dec. 14, 2006--Standard & Poor's Ratings Services said today that its 'A/A-1' counterparty credit ratings on Erste Bank der oesterreichischen Sparkassen AG (Erste Bank) remain unchanged following the bank's announcement of plans to optimize the group's organizational structure. Standard & Poor's expects that the organizational changes are aimed at increasing the group's efficiency and transparency, and should not have wider implications on the group's business focus and its role within the Austrian savings banks sector. Under the group's planned legal structure, Erste Bank will become a holding company, but will retain its own operating banking activities, mainly treasury, corporate finance, and investment banking. In addition, the proposed spin-off of the Austrian retail and small and midsize...
Companies mentioned in this report are: Erste Group Bank AG
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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