Banca di Credito Cooperativo dell'Alta Padovana SCaRL Feb 08
Standard & Poors, February 2008
Abstract
Good local franchise in the wealthy and economically dynamic Veneto region in northeastern Italy Larger capital base than for other rated Italian cooperative banks Good risk-adjusted profitability Potential external support from the Italian cooperative banking system Persistently high loan concentration in the real estate and construction sector, and significant single-name loan concentration Weak risk management Credit and operational risks arising from rapid expansion The ratings on Italian cooperative bank Banca di Credito Cooperativo dell'Alta Padovana SCaRL primarily reflect Alta Padovana's good local franchise in Italy's wealthy and economically dynamic Veneto region, good risk-adjusted profitability, and sizable capital base, which is the largest among rated peers in absolute terms. The long-term rating on Alta Padovana also benefits from a one-notch uplift...
Companies mentioned in this report are: Banca Padovana Credito Cooperativo S.C.
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
Banca Padovana Credito Cooperativo S.C.
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