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Bank Hapoalim, Bank Leumi Ratings Lowered; Outlook Stable; Israel Discount Bank Also Lowered Sep 02
Standard & Poors, Sep 2002
Abstract
LONDON (Standard & Poor's) Sept. 18, 2002--Standard & Poor's Ratings Services said today it lowered its long-term ratings on Bank Hapoalim B.M. (Hapoalim) and related entity, and on Bank Leumi le-Israel B.M. (Leumi), Israel's two leading financial institutions, to triple-'B'-plus from single-'A'-minus. At the same time, the 'A-2' short-term ratings on both Hapoalim and Leumi were affirmed. The outlook on these two entities is stable. In addition, Standard & Poor's lowered its public information ('pi') rating on Israel Discount Bank Ltd. (IDB) to double-'Bpi' from triple-'Bpi', and affirmed its triple-'Bpi' ratings on The First International Bank of Israel Ltd. and United Mizrahi Bank Ltd. 'The rating actions reflect the impact of the uncertain and vulnerable Israeli economic environment on the...
Companies mentioned in this report are: Bank Hapoalim B.M.,Israel (State of),Bank Leumi le-Israel B.M.,Israel Discount Bank Ltd.
Action: Various Rating Actions
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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