Banco Davivienda S.A. ?BBB-/A-3? Rating Placed On CreditWatch Negative On Planned Acquisition Jan 12
Standard & Poors, January 2012
Abstract
On Jan. 24, 2012, Davivienda announced its agreement with HSBC Holdings PLC to acquire its subsidiaries in El Salvador, Costa Rica, and Honduras. We are placing our 'BBB-/A-3' rating on Davivienda on CreditWatch with negative implications. We aim to resolve the CreditWatch listing once we can evaluate the acquisition's implications on Davivienda's earnings and capital. The resolution will also be subject to the regulatory approval of the acquisition. MEXICO CITY (Standard & Poor's) Jan. 25, 2012--Standard & Poor's Ratings Services placed its 'BBB-' long-term and 'A-3' short-term issuer credit ratings on Colombia-based Banco Davivienda S.A. on CreditWatch with negative implications. The CreditWatch placement follows the announcement that Davivienda has reached an agreement to acquire HSBC Holdings PLC's (A+/Stable/A-1) subsidiaries--banks, insurance...
Companies mentioned in this report are: Banco Davivienda S.A.,HSBC Holdings PLC
Action: On CreditWatch:Negative
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.
Banco Davivienda S.A.,HSBC Holdings PLC
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