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Bank Handlowy w Warszawie S.A. Oct 07
Standard & Poors, Oct 2007
Abstract
Support from strategic shareholder Sound capital Levels Good funding and liquidity position Higher-than-average economic and industry risks of operating in Poland Weak asset quality Increasing competition threatening market position The public information ('pi'; unsolicited) rating on Poland-based Bank Handlowy w Warszawie S.A. (Handlowy) benefits from support by Citigroup Inc. (AA/Stable/A-1+), sound capital levels, and good funding and liquidity positions. Standard & Poor's Ratings Services considers Handlowy as a strategically important subsidiary of Citigroup because of the high levels of integration, joint branding, and evidence of managerial and funding support. Furthermore, the bank's sound level of capitalization and its good funding and liquidity profiles support its expected development. The ratings are constrained by the higher-than-average economic and industry risks of operating...
Action: Review
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: Full Analysis
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