PARIS (Standard & Poor's CreditWire) May 30, 2000--Following the recent announcement by French finance company Sélectibanque of its name change, with immediate effect, to Sélectibail, Standard & Poor's affirmed its double-'B'-plus long-term counterparty credit, certificate of deposit, and senior unsecured debt ratings on the company. The single-'B' short-term counterparty credit and certificate of deposit ratings were also affirmed. The outlook remains negative. The change in the company's name is linked to the withdrawal of its banking license, scheduled for Dec. 31, 2001. Sélectibail's ratings reflect its standalone financial position in the context of the withdrawal of its banking license. Although the support of the company's direct shareholder, ISM S.A. (not rated), and its two ultimate shareholders, Deutsche Bank AG (AA/Negative/A-1+)...
Companies mentioned in this report are:
- Deutsche Bank AG
- General Electric Capital Corp.
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Research type: News
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