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BULLETIN: Sale of Ireland Operations Neutral for NAB's Credit Ratings Dec 04
Standard & Poors, Dec 2004
Abstract
MELBOURNE (Standard & Poor's) Dec. 15, 2004--Standard & Poor's Rating Services said today that National Australia Bank's (NAB; AA-/Stable/A-1+) planned divestment of its Ireland operations is neutral from a ratings perspective. 'The bank's Ireland operations provided NAB with some geographic diversity, but offered relatively little by way of earnings or a regional growth platform,' said credit analyst Craig Bennett, of the Financial Services Ratings group. Standard & Poor's notes NAB's comments regarding its strategic commitment to its U.K. bank businesses, which continues to afford the group a diversification benefit compared to its three Australian major bank competitors, although NAB will need to effectively contend with challenges to grow and manage these businesses. Additionally, Standard & Poor's believes that the divestments...
Companies mentioned in this report are: National Australia Bank Ltd.
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.
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