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Bulletin: LGT Bank in Liechtenstein Ratings Not Affected By Sale Of German Operation Sep 11
Standard & Poors, Sep 2011
Abstract
STOCKHOLM (Standard & Poor's) Sept. 30, 2011--Standard & Poor's Ratings Services said today that the prospective sale of LGT Bank Deutschland, announced yesterday, is unlikely to affect the ratings on LGT Bank in Liechtenstein AG (LGT, A+/Negative/A-1). LGT plans to sells its German subsidiary to Delbr-ck Bethmann Maffei (not rated), a Germany-based private bank owned by ABN AMRO Bank N.V. (A/Stable/A-1) of the Netherlands. The deal is expected to close before year-end subject to regulatory approval. In our view, the sale will have only a marginal negative impact on LGT's business profile. We do not expect any material impact on the LGT group's capitalization....
Companies mentioned in this report are: LGT Bank in Liechtenstein AG
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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