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Bankers Trust Corp., Units Downgraded; Off S&PWatch Sep 98
Standard & Poors, Sep 1998
Abstract
NY -- Standard & Poor's CreditWire 9/24/98 -- Standard & Poor's today lowered its ratings on Bankers Trust Corp. and units and removed the ratings from CreditWatch, where they were placed Sept. 2, 1998. Standard & Poor's affirmed its `A-1' short-term counterparty credit ratings and short-term certificates of deposit of selected operating bank subsidiaries (see list). Bankers Trust is heavily focused on noninvestment grade clients, having built a wider product offering for that sector with the BT Alex. Brown Inc. merger. The dearth of investment banking opportunities in that sector in the wake of market turbulence will reduce earnings potential over the medium term. While progress has been made in building the investment banking business, in a protracted period of...
Companies mentioned in this report are: Deutsche Bank Trust Corp.,BT Alex. Brown Inc.
Action: Downgraded, Off CreditWatch
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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