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BCPAtlantico Group Banks Placed on CreditWatch With Developing Implications Jun 99 Product Image

BCPAtlantico Group Banks Placed on CreditWatch With Developing Implications Jun 99

  • ID: 2091419
  • June 1999
  • Standard & Poors

FEATURED COMPANIES

  • Banco Santander S.A.
  • BCP Finance Bank Ltd.
  • MORE

Abstract
PARIS (Standard & Poor's CreditWire) June 22, 1999--Standard & Poor's today placed its ratings on Banco Comercial Portugues S.A. (BCP), Banco Portugues do Atlantico S.A. (Atlantico), CISF-Banco de Investimento, S.A. (CISF), and related entities on CreditWatch with developing implications (see list below). All three of these banks belong to the BCPAtlantico group. The CreditWatch placement follows the announcement of BCP's public tender offer for the entire share capital of Mundial Confianca Cia de Seguros S.A. (MC, triple-'B'-pi/--/--), one of the largest insurance companies in Portugal, which in turn controls both Banco Pinto & Sotto Mayor (BPSM; single-'A'-minus/Watch Dev/'A-2') and Banco Totta & Acores, S.A. (BTA; single-'A'-minus/Watch Dev/'A-2'). This offer, unsolicited by MC, is conditional upon BCP acquiring the majority of...

Companies mentioned in this report are:
- Banco Comercial Portugues S.A.
- Banco Santander S.A.
- Banco Portugues do Atlantico S.A.
- Banco Totta & Acores, S.A.
- Banco Pinto & Sotto Mayor, S.A.
- Millennium bcp Investimento - Banco Comercial de Investimento S.A.
- BCP Finance Bank Ltd.
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- Banco Comercial Portugues S.A.
- Banco Santander S.A.
- Banco Portugues do Atlantico S.A.
- Banco Totta & Acores, S.A.
- Banco Pinto & Sotto Mayor, S.A.
- Millennium bcp Investimento - Banco Comercial de Investimento S.A.
- BCP Finance Bank Ltd.
- Mundial Confianca Cia de Seguros S.A.

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