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ASB Bank Ltd. and Subsidiary on CreditWatch Positive Aug 00
Standard & Poors, Aug 2000
Abstract
MELBOURNE (Standard & Poor's CreditWire) Aug. 22, 2000--Standard & Poor's today placed its counterparty credit ratings on ASB Bank Ltd. (ASB) and its subsidiary ASB Finance Ltd. on CreditWatch with positive implications. The CreditWatch placement follows the announcement that Commonwealth Bank of Australia (CBA, double-'A'-minus/Stable/'A-1'-plus) will move to 100% ownership of ASB Group Ltd. (ASB's parent) by acquiring ASB Bank Community Trust's 25% minority interest shareholding. The purchase, which is subject to regulatory approval, is due on Oct. 3, 2000, and it is anticipated that ASB's counterparty credit ratings will be equalized with CBA's, Standard & Poor's said.--CreditWire ON CREDITWATCH POSITIVE To From ASB Bank Ltd. Counterparty credit ratings A+/Watch Pos/A-1 A+/Stable/A-1 US$500 million euro CD/euro CP program A+/A-1/Watch Pos...
Companies mentioned in this report are: ASB Bank Ltd.,Commonwealth Bank of Australia,ASB Finance Ltd.
Action: On CreditWatch:Positive
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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