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

  • ID: 1925032
  • August 2005
  • Standard & Poors
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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 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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- NIBC Bank N.V.

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