|
|
 |
|
Viewing report
|
|
|
|
Austria's Erste Bank S-T Rating Raised To 'A-1' On Reduced BCR Integration Risk Nov 06
Standard & Poors, Nov 2006
Abstract
FRANKFURT (Standard & Poor's) Nov. 17, 2006--Standard & Poor's Ratings Services said today it raised to 'A-1' from 'A-2' its short-term ratings on Austria-based Erste Bank der oesterreichischen Sparkassen AG (Erste Bank). The rating action reflects our increasing comfort with the integration risk linked to the acquisition of Banca Comerciala Romana (BCR; BBB-/Stable/--), Romania's largest bank. It also reflects the steady progress in the group's profitability, and improvements in the industry and economic risk concerning its operations in Central and Eastern Europe (CEE). 'Almost one year after the announcement of the takeover, no unexpected risks have emerged at BCR, which Standard & Poor's views as positive,' said Standard & Poor's credit analyst Bernd Ackermann. BCR represents a large acquisition for...
Companies mentioned in this report are: Erste Group Bank AG,Banca Comerciala Romana
Action: Upgraded
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.
|
|
|
|
