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BULLETIN: Dresdner Bank AG Ratings Unaffected By ?2 Billion Net Loss in 2003 Mar 04
Standard & Poors, March 2004
Abstract
FRANKFURT (Standard & Poor's) March 18, 2004--Standard & Poor's Ratings Services said today that Germany-based Dresdner Bank AG's (A/Negative/A-1) announcement of a -2 billion net loss in full-year 2003 has no rating implications. The bank has made progress in the recovery of its operating profitability, posting a moderate operating loss for 2003, compared with a very weak 2002. Its restructuring process, however, is still a significant burden on bottom-line profits. Standard & Poor's continues to consider Dresdner Bank's weak earnings a key negative rating factor. Revenue generation, the difficult domestic credit environment, and uncertainties regarding the successful implementation of announced restructuring measures will remain key challenges. Concerns persist about the continued magnitude of challenges that Dresdner Bank's management is facing....
Companies mentioned in this report are: Dresdner Bank AG,Allianz SE
Action: Bulletin
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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