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ARCHIVE: New Criteria Allows Higher Rating for Bank of Tokyo-Mitsubishi Via Dresdner Bank Alliance Sep 99
Standard & Poors, Sep 1999
Abstract
NEW YORK (Standard & Poor's CreditWire) Sept. 30, 1999--The recent Asian economic crisis has been especially difficult for Japanese banks, who have seen their ratings lowered during the past 18 months. In addition, the ratings of most of the fully credit-enhanced commercial paper conduits sponsored by Japanese banks have been lowered to at least 'A-2'. However, in a rating scenario that is the first of its kind, Standard & Poor's on Sept. 13, 1999, assigned an 'A-1+' rating to the -100 trillion commercial paper program issued by Concerto Receivables Corp., a bankruptcy-remote special purpose corporation. The rating is based upon the creditworthiness of Dresdner Bank AG (AA/Negative/A-1+), as both liquidity and currency swap provider. The rating takes into account the...
Companies mentioned in this report are: Dresdner Bank AG,Bank of Tokyo-Mitsubishi Ltd.
Action: General Comment
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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