LONDON (Standard & Poor's CreditWire) Feb. 3, 2000--Standard & Poor's has removed the ratings of Erste Bank der oesterreichischen Sparkassen AG (Erste Bank) and Ceska Sporitelna A.S. (CS) from CreditWatch following the Feb. 2, 2000, announcement that the Czech government has accepted Erste Bank's bid to buy a 52.07% stake in CS. Erste Bank group is the second largest bank in Austria, and CS is the second largest bank in the Czech Republic. The rating actions are as follows: -- Erste Bank: 'A-2' short-term counterparty credit and certificate of deposit ratings removed from CreditWatch negative and affirmed. -- CS: double-'B' long-term and single-'B' short-term counterparty credit and certificate of deposit ratings removed from CreditWatch developing and affirmed. The outlook on...
Companies mentioned in this report are:
- Erste Group Bank AG
- Ceska Sporitelna A.S.
Action: Affirmed, Off CreditWatch
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Research type: News
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