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S&P Corrects By Lowering Issue Ratings On Preferred Stock Guaranteed by Banco Comercial Portugues to 'C' Feb 13 Product Image

S&P Corrects By Lowering Issue Ratings On Preferred Stock Guaranteed by Banco Comercial Portugues to 'C' Feb 13

  • Published: February 2013
  • Standard & Poors

Abstract
MADRID (Standard & Poor's) Feb. 18, 2013--Standard & Poor's Ratings Services said today it had lowered to 'C' from 'CCC-' its issue ratings on preferred stock (ISIN: XS0194093844 and ISIN: XS0231958520) guaranteed by Banco Comercial Portugues S.A. (B+/Negative/B) and issued by its subsidiary BCP Finance Co. The outstanding amounts on the two issues are ?99 million and ?72 million respectively. Due to an error, we did not lower the ratings on these two issues when the dividend payments were skipped on June 9, 2012, and Oct. 13, 2012 respectively. RATINGS LIST Downgraded To From BCP Finance Co. Preference Stock* C CCC- *Guaranteed by Banco Comercial Portugues S.A....

Companies mentioned in this report are:
- Banco Comercial Portugues S.A.
- BCP Finance Co.

Action: Downgraded

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 READ MORE >

- Banco Comercial Portugues S.A.
- BCP Finance Co.

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