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BULLETIN:Swiss Life Ratings Unaffected by Exclusive Talks on Banca del Gottardo Sale Jan 04
Standard & Poors, Jan 2004
Abstract
FRANKFURT (Standard & Poor's) Jan 21, 2004--Standard & Poor's Ratings Services said today that the ratings and outlook on Switzerland-based life insurer Swiss Life/Schweizerische Lebensversicherungs- und Rentenanstalt AG (A-/Negative/--) are not affected by the company's announcement that it has entered into exclusive negotiations on the sale of Banca del Gottardo (BBB+/Watch Pos/A-2) with a consortium of investors, including UniCredito Italiano SpA (AA-/Stable/A-1+), and swissfirst Bank AG (not rated). The sale is in line with Standard & Poor's expectations and demonstrates management's commitment to refocus on its core competencies of life and pensions business in line with its corporate strategy. ANALYST E-MAIL ADDRESSES karin_clemens@standardandpoors.com david_harrison@standardandpoors.com InsuranceInteractive_Europe@standardandpoors.com...
Companies mentioned in this report are: Swiss Life AG,Banca del Gottardo,UniCredit SpA
Action: S&P Event
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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