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Bankers Trust New Zealand Ltd. US$1 Billion Euro Commercial Paper Program Rating Withdrawn Jul 99
Standard & Poors, July 1999
Abstract
MELBOURNE (Standard & Poor's CreditWire) July 13, 1999--Standard & Poor's today withdrew its 'A-1'-plus short-term rating on Bankers Trust New Zealand Ltd.'s (BTNZ) US$1 billion euro commercial paper program. This action follows the acquisition of BTNZ and related group companies by Deutsche Bank AG on June 5, 1999, which resulted in BTNZ relinquishing its banking licence. The double-'A'-minus long-term and 'A-1'-plus short-term counterparty credit ratings on BTNZ are not affected by the withdrawal and is affirmed. The outlook remains negative. Obligations as counterparty will remain guaranteed by Bankers Trust Co., New York, NY until the guarantee expires in January 2000, Standard & Poor's said.--Creditwire...
Companies mentioned in this report are: Bankers Trust New Zealand Ltd.,Deutsche Bank AG,Deutsche Bank Trust Company Americas
Action: Various Rating Actions
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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