|
|
 |
|
Viewing report
|
|
|
|
BULLETIN: Banco de Sabadell Ratings And Outlook Unchanged On News Of Urquijo Acquisition May 06
Standard & Poors, May 2006
Abstract
MADRID (Standard & Poor's) May 25, 2006--Standard & Poor's Ratings Services said today that its ratings and outlook on Banco de Sabadell S.A. (A/Positive/A-1) remain unchanged following the Spanish bank's announcement of its acquisition of Banco Urquijo S.A. The acquisition enhances Sabadell's position and prospects in the Spanish banking system. We expect Sabadell to manage Urquijo's integration smoothly, given the size of its operation--which will contribute 13% of the combined group's customer funds--and Sabadell's good track record in integrating acquired banks. Capital ratios will decline as a result of the acquisition, but we expect Sabadell to strengthen them in a reasonable period of time....
Companies mentioned in this report are: Banco de Sabadell S.A.
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.
|
|
|
|
