|
|
 |
|
Viewing report
|
|
|
|
Bulletin: HSBC Bank (Panama) Ratings Not Affected By Sale Of Its Subsidiaries In Central America Jan 12
Standard & Poors, Jan 2012
Abstract
MEXICO CITY (Standard & Poor's) Jan. 25, 2012--Standard & Poor's Ratings Services said today that its ratings on HSBC Bank (Panama) (BBB-/Positive/A-3) are not affected by its parent's (HSBC Holdings PLC) January 24 announcement about the sale of Banco HSBC Salvadoreno S.A. and other subsidiaries in Central America to Banco Davivienda S.A. In our opinion, the rating on HSBC Bank (Panama) reflects mainly the sovereign rating and the anchor draws on our Banking Industry Country Risk Assessment on Panama due to the bank's large exposure to the sovereign. After reviewing pro forma financial statement, the bank's financial profile would not be affected. We believe that HSBC Bank (Panama) is still strategically important to its parent, as it operates in the...
Companies mentioned in this report are: HSBC Bank (Panama) S.A.,HSBC Holdings PLC,Banco HSBC Salvadoreno S.A.,Banco Davivienda S.A.
Action: Bulletin
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.
|
|
|
|
