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Austria's Erste Bank 'A-2' ST Rating Affirmed On BCR Acquisition Dec 05
Standard & Poors, Dec 2005
Abstract
FRANKFURT (Standard & Poor's) Dec. 22, 2005--Standard & Poor's Ratings Services said today it affirmed its 'A-2' short-term ratings on Austria-based Erste Bank der oesterreichischen Sparkassen AG (Erste Bank), and the ratings on related entities. The rating actions follow Erste Bank's successful tender to acquire 61.9% in the leading Romanian bank, Banca Comerciala Romana (BCR; BBB-/Stable/--) for -3.75 billion from the Romanian government, the European Bank for Reconstruction and Development, and the International Finance Corporation. (For further details on BCR see the Research Update entitled 'Banca Comerciala Romana LT Rating Raised To 'BBB-' After Erste Bank Wins Privatization Tender,' published today on RatingsDirect, Standard & Poor's Web-based credit analysis system.) 'The rating affirmation reflects the strong strategic rationale of the...
Companies mentioned in this report are: Erste Group Bank AG
Action: Affirmed
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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