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Banque Espirito Santo et de la Venetie Feb 03
Standard & Poors, Feb 2003
Abstract
The ratings on Banque Espirito Santo et de la V-n-tie (BESV) fundamentally reflect the implicit support of Espirito Santo Financial Group S.A (ESFG; 'BBB/Neg/A-3'), to which it belongs, and its status as a strategically important subsidiary of ESFG. BESV benefits from the strong support of, and a high degree of integration within, the Espirito Santo group. BESV's main shareholder is Banco Espirito Santo S.A. ('A-/Neg/A-2'), Portugal's third largest bank. BESV was created from the merger of the two French banks, Via Banque and BESV, on April 12, 2002. With pro forma total assets of -1.15 billion in 2002, BESV focuses on engaging in banking business with large and midsize French corporations that have a presence in southern Europe, and with...
Companies mentioned in this report are: Banque Espirito Santo et de la Venetie,Banco Espirito Santo S.A.,BES Finance Ltd.,Companhia de Seguros Tranquilidade S.A.,Espirito Santo Financial Group S.A.
Action: Review
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: Full Analysis
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