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Banca di Credito Cooperativo dell'Alta Padovana SCaRL Ratings Affirmed At 'BB/B'; Outlook Negative Apr 09
Standard & Poors, April 2009
Abstract
MILAN (Standard & Poor's) April 1, 2009--Standard & Poor's Ratings Services today said it affirmed its 'BB/B' long- and short-term counterparty credit ratings on Italy's Banca di Credito Cooperativo dell'Alta Padovana SCaRL (Alta Padovana). The outlook is negative. At the same time, we removed the long- and short-term ratings from CreditWatch with negative implications, where they had initially been placed on Sept. 24, 2008. 'The affirmation incorporates our expectations that the bank will be able to maintain in 2009 a financial profile in line with the ratings,' said Standard & Poor's credit analyst Francesca Sacchi. The ratings on Alta Padovana continue to reflect the bank's long-standing local franchise in Italy's economically dynamic Veneto region, and the larger capital base than...
Companies mentioned in this report are: Banca Padovana Credito Cooperativo S.C.
Action: Affirmed
Action: Outlook: Negative
Action: Removed From CreditWatch
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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