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Research Update: Banca del Gottardo Affirmed At 'BBB+/A-2'; Outlook Stable; Ratings Withdrawn At Bank Request Aug 06 Product Image

Research Update: Banca del Gottardo Affirmed At 'BBB+/A-2'; Outlook Stable; Ratings Withdrawn At Bank Request Aug 06

  • ID: 2024147
  • August 2006
  • Standard & Poors

Abstract
On Aug. 9, 2006, Standard & Poor's Ratings Services 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 At the same time, the ratings were withdrawn at the bank's request.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 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, the Switzerland-based life insurance group Swiss Life/Schweizerische Lebensversicherungs- und Rentenanstalt (A-/Stable/--). To From Counterparty credit rating NR BBB+/Stable/A-2 CDs NR BBB+/A-2...

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Action: Withdrawn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.

Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.

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