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NIB Capital Bank Cut To 'A-/A-2' On Acquisition Announcement; Off Watch; Outlook Stable Aug 05 Product Image

NIB Capital Bank Cut To 'A-/A-2' On Acquisition Announcement; Off Watch; Outlook Stable Aug 05

  • Published: August 2005
  • Standard & Poors

Abstract
LONDON (Standard & Poor's) Aug. 9, 2005--Standard & Poor's Ratings Services said today it lowered its long- and short-term counterparty credit and certificate of deposit ratings on Netherlands-based NIB Capital Bank N.V. (NIBC) to 'A-/A-2' from 'A+/A-1'. At the same time, the commercial paper rating was lowered to 'A-2' from 'A-1'. In addition, all ratings were removed from CreditWatch with negative implications, where they had been placed on July 8, 2005. The outlook is stable. The rating action follows the signing of a share purchase agreement by a consortium of investors led by JC Flowers & Co LLC (JCF; not rated) to acquire 100% of the share capital of NIB Capital N.V. (NIB; not rated), the parent company of NIBC,...

Companies mentioned in this report are:
- NIBC Bank N.V.

Action: Downgraded
Action: Outlook: Stable
Action: Removed From 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 READ MORE >

- NIBC Bank N.V.

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