Standard & Poor's Applies Revised Bank Criteria To 14 Switzerland- And Liechtenstein-Based Banks And Core Subs Dec 11
- Language: English
- Published: December 2011
Standard & Poor's is converting its issuer credit ratings on the Swiss cantons of Graubuenden, Lucerne, and Schwyz to "unsolicited" in line with EU regulations. The ratings on the cantons serve as a component of the ratings on Graubuendner Kantonalbank, Luzerner Kantonalbank, and Schwyzer Kantonalbank, which remain solicited. On Dec. 19, 2011, Standard & Poor's Ratings Services converted its issuer credit ratings on the Swiss cantons of Graubuenden (AA+/Stable/A-1+), Lucerne (AA+/Stable/A-1+), and Schwyz (AAA/Stable/A-1+) to "unsolicited". We are converting the ratings in line with EU regulations as we do not have rating agreements with the three cantons. Article 10 of EU Regulation 1060/2009, which addresses matters relating to the disclosure and presentation of credit ratings, requires, among other things, that...
Companies mentioned in this report are: Graubuenden (Canton of),Schwyzer Kantonalbank,Schwyz (Canton of),Graubuendner Kantonalbank,Luzerner Kantonalbank,Lucerne (Canton of)
Action: New Rating
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Product Type: Research Update
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Graubuenden (Canton of),Schwyzer Kantonalbank,Schwyz (Canton of),Graubuendner Kantonalbank,Luzerner Kantonalbank,Lucerne (Canton of)