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BULLETIN: Centrica PLC Sells Goldfish Credit Card and Personal Loan Businesses to Lloyds TSB Aug 03
Standard & Poors, Aug 2003
Abstract
LONDON (Standard & Poor's) Aug. 5, 2003--Standard & Poor's Ratings Services said today that it views as positive the sale by multi-brand energy supply and essential services company Centrica PLC (A/Stable/A-1) of its loss-making Goldfish credit card and personal loan businesses and associated assets, to Lloyds TSB Bank PLC (AA/Negative/A-1+). Centrica's exit from the high-risk banking business will moderately enhance its cash flow and reduce business risk, while allowing management to concentrate its resources on core energy supply activities and related services. The sale will not affect the credit rating on Centrica due to the small scale of the Goldfish operation....
Companies mentioned in this report are: Centrica PLC,Lloyds TSB Bank PLC
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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