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Banca di Credito Cooperativo dell'Alta Padovana SCaRL Assigned 'BBB+/A-2' Ratings; Otlk Stable Dec 03
Standard & Poors, Dec 2003
Abstract
PARIS (Standard & Poor's) Dec. 18, 2003--Standard & Poor's Ratings Services said today that it had assigned its 'BBB+' long-term and 'A-2' short-term counterparty credit ratings to Banca di Credito Cooperativo dell'Alta Padovana SCaRL (Alta Padovana), one of the largest members of the Italian cooperative banking system (Banche di Credito Cooperativo, or BCC) in Italy. The outlook is stable. 'The ratings on Alta Padovana primarily reflect the bank's strong local franchise, sound earning generation capacity, low credit risk cost, and strong capitalization,' said Standard & Poor's credit analyst Bernard de Longevialle. 'These positive elements are mitigated by the operational and credit risks generated by the bank's strategy of rapid expansion and largely unseasoned loan portfolio, notably in construction, as well...
Companies mentioned in this report are: Banca Padovana Credito Cooperativo S.C.
Action: New Rating
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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