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Banco Espirito Santo e Comercial de Lisboa Placed on Watch Neg;BPI Group Placed on Watch Pos Jan 00
Standard & Poors, Jan 2000
Abstract
PARIS (Standard & Poor's CreditWire) Jan. 20, 2000--Standard & Poor's today placed its ratings on the Portuguese Banco Espirito Santo e Comercial de Lisboa, S.A. (BES), its related entities, and the Luxembourg-based holding company Espirito Santo Financial Group S.A. (ESFG) on CreditWatch with negative implications. At the same time, the ratings on BPI-SGPS, S.A.; Banco BPI, S.A.; and Banco Portugues de Investimento, S.A.--which make up the BPI group in Portugal--were placed on CreditWatch with positive implications. (See list below for all rating actions.) The CreditWatch placements follow the announcement of the merger of BES and the BPI group. The merger will create the second-largest financial group in Portugal, with strong shares in all business segments of the market. This deal...
Companies mentioned in this report are: Banco Espirito Santo S.A.,Banco Espirito Santo North America Capital Corp.,Banco BPI S.A.,Banco Portugues de Investimento S.A.,BES Finance Ltd.,Espirito Santo Financial Group S.A.
Action: On CreditWatch:Various
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.
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