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Banca del Gottardo Affirmed At 'BBB+/A-2'; Outlook Stable; Ratings Withdrawn At Bank Request Aug 06
Standard & Poors, Aug 2006
Abstract
MILAN (Standard & Poor's) Aug. 9, 2006--Standard & Poor's Ratings Services said today that it affirmed its 'BBB+' long-term and 'A-2' short-term counterparty credit ratings on Swiss bank Banca del Gottardo. The outlook is stable. At the same time, the ratings were withdrawn at the bank's request. There is no rated debt outstanding. 'The ratings on Banca del Gottardo at the time of the withdrawal reflected its solid franchise, improving asset quality, and satisfactory capitalization, together with support from the bank's parent, Swiss Life,' said Standard & Poor's credit analyst Taos Fudji. The Switzerland-based life insurance group Swiss Life/Schweizerische Lebensversicherungs- und Rentenanstalt is rated 'A-/Stable/--'....
Companies mentioned in this report are: Banca del Gottardo,Swiss Life AG
Action: Affirmed
Action: Outlook: Stable
Action: Withdrawn
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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