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S&P Corrects European Bank for Reconstruction and Development Issue Rating By Removing Issue Rating From Watch Neg Dec 11 Product Image

S&P Corrects European Bank for Reconstruction and Development Issue Rating By Removing Issue Rating From Watch Neg Dec 11

  • ID: 2033967
  • December 2011
  • Region: Europe
  • Standard & Poors

Abstract
LONDON (Standard & Poor's) Dec. 16, 2011--Standard & Poor's Ratings Services said today that it has corrected an error by removing from CreditWatch negative its 'AAA' rating on Turkish lira (TRY) 235,000,000 notes due Feb. 26, 2015, and issued by the European Bank for Reconstruction and Development (EBRD; AAA/Stable/A-1+). At the same time, we are affirming the rating on the issue at 'AAA'. The outlook is stable. The error occurred because the issue was incorrectly rated as having been issued by the European Investment Bank (AAA/Watch Neg/A-1+), which was placed on CreditWatch with negative implications on Dec. 7, 2011. Because of this error, the TRY235,000,000 notes were incorrectly placed on CreditWatch with negative implications. We have now corrected the error...

Companies mentioned in this report are:
- European Bank for Reconstruction and Development

Action: Affirmed
Action: Removed From 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.

- European Bank for Reconstruction and Development

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