Outlook On Nine Swiss Banks To Negative On Exposure To Rising Property Prices; Ratings On All Swiss Banks Affirmed Jul 12
- Language: English
- Published: July 2012
- Region: Switzerland
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
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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Graubuenden (Canton of),Schwyzer Kantonalbank,Schwyz (Canton of),Graubuendner Kantonalbank,Luzerner Kantonalbank,Lucerne (Canton of)