S&P'S NONGUARANTEED RATINGS ON CBA EFFECTIVE TODAY Jul 96
Standard & Poors, July 1996
Abstract
MELBOURNE -- Standard & Poor's CreditWire 7/19/96 -- Standard & Poor's today has advised that its double-`A'-minus long-term and `A-1'-plus short- term counterparty credit ratings assigned to the newly contracted, nonguaranteed debt obligations of the Commonwealth Bank of Australia (CBA) are effective from July 19, 1996. This advice follows confirmation by the commonwealth of Australia that the effective date (as defined in the legislation) for the finalization of the sale of its majority shareholding in the CBA is July 19, 1996, in lieu of the previously advised date of July 22, 1996. CBA's outstanding general market obligations at the effective date will continue to be guaranteed by the commonwealth government until maturity. Under the terms of the transitional arrangements contained...
Companies mentioned in this report are:
- Commonwealth Bank of Australia
Action: New Rating
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.
- Commonwealth Bank of Australia
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