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Bulletin: HSBC France Ratings Unchanged On Potential Regional Bank Sales Feb 08
Standard & Poors, Feb 2008
Abstract
PARIS (Standard & Poor's) Feb. 29, 2008--Standard & Poor's Ratings Services said today that its counterparty credit ratings on HSBC France (AA/Stable/A-1+) are not affected by HSBC Group's announcement that it has entered into exclusive discussions with Banque F-d-rale des Banques Populaires (BFBP) to sell seven of its wholly owned regional banks that have not been regrouped under the HSBC brand name. The seven regional banks, Soci-t- Marseillaise de Cr-dit, Banque de Savoie, Banque Chaix, Banque Marze, Banque Dupuy de Parseval, Banque Pelletier, and Cr-dit Commercial du Sud-Ouest (all not rated) accounted for about 11% of HSBC France's consolidated shareholders equity, and contributed less than 20% of HSBC France's pre-tax profits in 2007. HSBC France has received a firm cash...
Companies mentioned in this report are: HSBC France,HSBC Bank PLC,HSBC Holdings PLC
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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