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Ratings on Erste Bank and Ceska Sporitelna Affirmed; Off CreditWatch Feb 00 Product Image

Ratings on Erste Bank and Ceska Sporitelna Affirmed; Off CreditWatch Feb 00

  • ID: 1873126
  • February 2000
  • Standard & Poors

FEATURED COMPANIES

  • Ceska Sporitelna A.S.
  • Erste Group Bank AG
  • MORE

Abstract
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

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.

- Erste Group Bank AG
- Ceska Sporitelna A.S.

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