Fortis SA/NV http://www.alacrastore.com/company-snapshot/Fortis_SA_NV-2505223 Saturday, July 26, 2008 7:44:01 AM 2505223 Fortis SA/NV en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/cs/71578cs/71578norm Euro Financial Movers: Bad News Is Better Out Than In Those that came through relatively unscathed from a horrible week were the issuers who have already got most of the bad news out there UK and Irish banks, which only report half-yearly,...715781551YesD0Article3748071234328360329356119112243573653551304366975corp244193100787240357/14/2008 12:07:28 AM150Issuers that have already quantified as much as possible of the bad news were the relative outperformers in a pessimistic stockmarket, even if their chief executives are feeling the heat for recent past performance.71578Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/bir/449939bir/449939normFortis S.A./NVFortis BFortis AGGenerale de Banque SABelgiumFinance: Fortis S.A./NV, Belgium and Fortis NV, Netherlands are the two parent companies of Fortis. They head the Fortis Group, which in turn comprises a large number of group companies that provide banking and insurance services to personal, business and6719602960366153615962116282631163216331635163616371641167225511125221105221205222205222985231205239205241135241145241265241275242105251105259109IM7/11/2008 6:29:14 AM449939Company Profiles & FinancialsGale Company Profileshttp://www.alacrastore.com/storecontent/fitch/392410_report_framefitch/392410_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Fortis SA/NV803605517/9/2008 10:20:00 AM01010200165Credit UpdateFORB392410_report_frameCredit & Investment ResearchFitchResearchhttp://www.alacrastore.com/storecontent/cs/71339cs/71339norm Euro Financial Movers: Downward Drift It was a relatively quiet week in terms of newsflow, pervaded once again by fears that there is worse to come Banks such as Deutsche and UBS tried to reassure the market about their #Q## results...178911913881286128732935538612241304corp193164416781009535464060Financial Movers7/7/2008 12:05:58 AM150Banks scramble to reassure the market that their 2Q08 results will not be as bad as feared...with limited success713391482YesD0Article80719241677367178771339Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/moodys/PR_158569_808003959moodys/PR_158569_808003959htmlGlobal Credit Research Announcement # JUL #### Announcement: Fortis Capital (Asia) Limited Moody's maintains positive outlook on FICA's ratings Hong Kong, July ##, #### -- Moody's Investors Service has affirmed the A# insurance financial...7/3/2008 12:44:46 AMhtmlFortis Capital (Asia) LimitedFortis Insurance Company (Asia) LimitedFortis SA/NVFortis N.V.Fortis Capital (Asia) Limited; Fortis Insurance Company (Asia) Limited; Fortis N.V.; ...8080039598079315796000473772507150.0000NewsAnnouncementPR_158569_808003959Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/cs/71110cs/71110norm Euro Financial Movers: In A Bear Hug The bears were vindicated by a slew of bad news, including deteriorating economic conditions, monoline downgrades and bank capital issuance Barclays handled its capital raising much better than...711101327YesD0Article3603569758071143132420103613571234166460916771304corp19295241647872403560Financial Movers6/30/2008 12:06:23 AM150A drip feed of negative news on banks kept the markets in pessimistic mood71110Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/moodys/PR_158243_809783011moodys/PR_158243_809783011htmlGlobal Credit Research Rating Action ## JUN #### Rating Action: FB Funding Company Moody's downgrades Fortis' ratings Paris, June ##, #### -- Moody's Investors Service has today announced that it has downgraded Fortis Bank SA/NV's...6/28/2008 12:31:24 PMhtmlFB Funding CompanyFortis Bank, Cayman IslandsFortis Insurance BelgiumFortis ASR Levensverzekering N.V.Fortis ASR Schadeverzekering N.V.Fortis Hybrid FinancingFortis Bank, New YorkFortis Bank (Hong Kong)Fortis Bank S.A./N.V.Fortis Funding LLCFortfinlux S.A.Fortis Luxembourg Finance S.A.Fortis Capital Company LimitedFortis Capital Funding LPFortis Fixed Rate Annual Capital Funding TstFortis Fixed Rate Qtrly Capital Funding TrustFortis Floating Rate Capital Funding TrustFortis SA/NVFortis Utrecht N.V.Fortis Bank Nederland (Holding) N.V.Fortis Finance N.V.Fortis Banque Luxembourg S.A.Fortis N.V.Genfinance Luxembourg S.A.FORTIS IFICO (Cayman)FB Funding Company; Fortfinlux S.A.; Fortis ASR Levensverzekering N.V.; ...809783011809697937809653465809653045809653033809469876808319110806871686684350684300600066208600065044600048271600047643600047642600047641600047640600047377600047372600040561600007929282725072332187900150.0000NewsRating ActionPR_158243_809783011Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/cs/71059cs/71059norm Fortis: Capital Cracks Fortis announces new capital raising measures, including the deferral of its interim dividend, as it seeks an €# billion solvency boost It continues to claim that current solvency is strong, but by our...710591580YesD0Article807corp24356/26/2008 11:06:06 PM150Another day, another European bank is forced into a reluctant capital hike71059Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/fitch/424740_pr_framefitch/424740_pr_framehtmlFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Fortis (NL) N. V.Fortis ASR Levensverzekering N.V.Fortis ASR Schadeverzekering N.V.Fortis Banque Luxembourg SAFortis Banque SA/NVFortis Brussels NVFortis Corporate Insurance N.V.Fortis Insurance BelgiumFortis Insurance NVFortis SA/NVFortis Utrecht N.V.8035968280360358803605508036055180360552803605538036055481766267823722998357798083577983835794656/26/2008 10:18:00 AM01010100010102000101030085Press ReleaseFORB424740_pr_frameCredit & Investment ResearchFitchResearchhttp://www.alacrastore.com/storecontent/cs/70783cs/70783norm The Monoline Monster: European Bank Exposures European banks' exposure to monolines via CDS protection is growing as the value of the underlying assets continues to slide The problem is that these hedges are becoming less effective...707832356YesD0Article359358356329364360807373362975367357corp193787243598Monolines91Subprime6/19/2008 2:14:00 AM150We compare the exposures of European banks to monolines and estimate potential additional losses in 2Q0870783Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/70626cs/70626norm Euro Financial Movers: Moving Closer To Home Fears over US structured credit are being replaced by concerns about the impact on banks of slowing economies in  Europe, in particular from falling property markets Despite unusually high...706261015YesD0Article8073661304178935636032936512863551224357corp193164424781009546403560Financial Movers6/16/2008 12:05:31 AM150It was a volatile week for several European banks as opinions fluctuated regarding economic downturns, property markets and the need for capital raising.70626Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/70020cs/70020norm Basel #: Euro Bank Ratios for #Q## - Clear as Mud We publish an updated European Bank Capital Model spreadsheet, including all available figures for #Q##. Where possible, this is based on Basel # data, although there are still a few...700201489YesD0Article1787120312363591789377192480735638935860962032912251216448370388360364371366362655167712871199128635712768063671224355373975386369corp161931925872495100146154186102243558Bank Capital Models14Regulatory Matters6/2/2008 11:05:00 PM150An update of our Bank Capital Model, to mark the first time that Basel 2 ratios have become available for the majority of the coverage universe. But levels of detail vary enormously, and regulators are still fixing the goalposts.70020Credit & Investment ResearchCreditSightsNETHERLANDS - Fortis Group NV of Belgium planned to acquire the remaining ##% interest, which it did not already own, in ABN AMRO Verzekeringen, a Zwolle-based insurance company, from its joint venture partner Delta Lloyd NV, a unit of Aviva PLC.5/22/2008 3:36:31 PM34971E01297J34971E05384RFortis Group NVABN AMRO VerzekeringenFortis Group NVAviva PLChttp://www.alacrastore.com/storecontent/Thomson_M%26A/Fortis_Group_NV_acquires_ABN_AMRO_Verzekeringen_from_Aviva_PLC-1979714040sdc/19797140401979714040Copyright © 2008, Thomson Financial, All Rights ReservedEuronext BInvestment & Commodity Firms,Dealers,ExchangesBelgiumInvestment advice6282FFForeignPublicFORB6000:Banks6282:Investment advice6289:Security and commodity services, nec6311:Life insurance6321:Accidental and health insurance6331:Fire, marine, and casualty insurance6351:Surety insurance6000:Banks6282:Investment advice6289:Security and commodity services, nec6311:Life insurance6321:Accidental and health insurance6331:Fire, marine, and casualty insurance6351:Surety insuranceInsuranceNetherlandsLife insurance6311FFForeignJoint Venture318019003Pvd finl svcsPvd ins svcsUnspecifiedStock1011812001May 22 20080.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000EUR31 Dec 070.000004352.460000.00000173642.848001268329.54000EURO0.000001.000002.000003.000004.000005.000006.000007.000008.000009.0000010.0000011.0000012.0000013.0000014.0000015.00000Fortis Group NV, located inBrussels, Belgium, providesfinancial services such asbanking and insurance servicesincluding life insurance(accident and health) andnon-life insurance which areoffered to private, businessand institutional clientsthrough its own channels, incollaboration withintermediaries and throughother distribution partners.The company was founded in1990.Fortis Group NV, located in Brussels, Belgium, providesfinancial services such as banking and insurance servicesincluding life insurance (accident and health) and non-lifeinsurance which are offered to private, business andinstitutional clients through its own channels, incollaboration with intermediaries and through otherdistribution partners. The company was founded in 1990.Fortis Group NV, located in Brussels, Belgium, provides financial services such as banking and insurance services including life insurance (accident and health) and non-life insurance which are offered to private, business and institutional clients through its own channels, in collaboration with intermediaries and through other distribution partners. The company was founded in 1990.1.000002.000003.000004.00000ABN AMRO Verzekeringen,located in Zwolle,Netherlands, is an insurancecompany.ABN AMRO Verzekeringen, located in Zwolle, Netherlands, isan insurance company.ABN AMRO Verzekeringen, located in Zwolle, Netherlands, is an insurance company.0.000000.000000.000000.00000Y20 May 08Tue, 20 May 2008 00:00:00 ESTDate Announced: 05/20/2008Date Effective:MergerFriendly0.000000.000000.000000.000000.000000.00000Price/Share0.0000000.000000.0000000.000000.000000.000000.000000.000000.0000000.00000N0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.0000049.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.000008.000009.00000NETHERLANDS - Fortis Group NVof Belgium planned to acquirethe remaining 51% interest,which it did not already own,in ABN AMRO Verzekeringen, aZwolle-based insurancecompany, from its jointventure partner Delta LloydNV, a unit of Aviva PLC.NETHERLANDS - Fortis Group NV of Belgium planned to acquire the remaining 51% interest, which it did not already own, in ABN AMRO Verzekeringen, a Zwolle-based insurance company, from its joint venture partner Delta Lloyd NV, a unit of Aviva PLC.NETHERLANDS - Fortis Group NV of Belgium planned to acquire the remaining 51% interest,which it did not already own, in ABN AMRO Verzekeringen, a Zwolle-based insurance company,from its joint venture partner Delta Lloyd NV, a unit of Aviva PLC.NETHERLANDS - Fortis Group NV of Belgium planned to acquire the remaining 51% interest, which it did not already own, in ABN AMRO Verzekeringen, a Zwolle-based insurance company, from its jointventure partner Delta Lloyd NV, a unit of Aviva PLC.NETHERLANDS - Fortis Group NV of Belgium planned to acquire the remaining 51% interest, which it did not already own, in ABN AMROVerzekeringen, a Zwolle-based insurance company, from its joint venture partner Delta Lloyd NV, a unit of Aviva PLC.Pending34194.000002981.00000118928.00000868679.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000Status:Pending-999.00000np0.00000-999.00000np0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000006311:Life insurance6321:Accidental and health insurance6331:Fire, marine, and casualty insurance6351:Surety insurance318019003Euronext BBelgium6282ForeignPublicFORB6282:Investment advice6311:Life insurance6321:Accidental and health insurance6331:Fire, marine, and casualty insurance6351:Surety insurance187545004LondonUnited Kingdom6311ForeignPublicAV.L0.000000.000000.000000.00000Deal InformationThomson Financial Mergers & AcquisitionsFRANCE - Credit du Nord SA, a unit of Societe Generale SA, acquired the # branches of Fortis Banque, a Puteaux-based provider of bank holding services and a unit of Fortis Group NV. Terms were not disclosed.4/17/2008 9:45:21 AM22532Q35009C83364E34971ECredit du Nord SAFortis Banque-6 BranchesSociete Generale SAFortis Group NVhttp://www.alacrastore.com/storecontent/Thomson_M%26A/Credit_du_Nord_SA_acquires_Fortis_Banque_6_Branches_from_Fortis_Group_NV-1969772040sdc/19697720401969772040Copyright © 2008, Financial Times Information, All Rights ReservedCommercial Banks, Bank Holding CompaniesFranceBanks6000FFForeignSubsidiary6000:Banks6000:Banks6211:Security brokers, dealers, and flotation companies6311:Life insuranceCommercial Banks, Bank Holding CompaniesFranceBanks6000FFForeignSubsidiary1595002BankPvd finl svcsUnspecifiedAssets1006024001Apr 17 20080.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.00000Credit du Nord SA, located inLille, France, is a commercialbank. The company was foundedin 1848.Credit du Nord SA, located in Lille, France, is a commercialbank. The company was founded in 1848.Credit du Nord SA, located in Lille, France, is a commercial bank. The company was founded in 1848.1.000002.00000Fortis Banque's 6 branchesprovide banking services.Fortis Banque's 6 branches provide banking services.Fortis Banque's 6 branches provide banking services.0.000000.000000.000000.00000N14 Apr 08Mon, 14 Apr 2008 00:00:00 ESTDate Announced: 04/14/200814 Apr 08Date Effective: 04/14/200814 Apr 08Acq. of AssetsFriendly0.000000.000000.000000.000000.000000.00000Price/Share0.0000000.000000.0000000.00000100.00000100.000000.000000.000000.0000000.00000N0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000100.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.000008.00000FRANCE - Credit du Nord SA, aunit of Societe Generale SA,acquired the 6 branches ofFortis Banque, a Puteaux-basedprovider of bank holdingservices and a unit of FortisGroup NV. Terms were notdisclosed.FRANCE - Credit du Nord SA, a unit of Societe Generale SA, acquired the 6 branches of Fortis Banque, a Puteaux-based provider of bank holding services and a unit of Fortis Group NV. Terms were not disclosed.FRANCE - Credit du Nord SA, a unit of Societe Generale SA, acquired the 6 branches ofFortis Banque, a Puteaux-based provider of bank holding services and a unit of FortisGroup NV. Terms were not disclosed.FRANCE - Credit du Nord SA, a unit of Societe Generale SA, acquired the 6 branches of Fortis Banque, a Puteaux-based provider of bank holding services and a unit of Fortis Group NV. Terms were notdisclosed.FRANCE - Credit du Nord SA, a unit of Societe Generale SA, acquired the 6 branches of Fortis Banque, a Puteaux-based provider of bankholding services and a unit of Fortis Group NV. Terms were not disclosed.Completed0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000Status:Completed-999.00000np0.00000-999.00000np0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000006000:Banks5550001Euro P.P.MFrance6000ForeignPublicGLE6000:Banks6282:Investment advice6289:Security and commodity services, nec6311:Life insurance6321:Accidental and health insurance6331:Fire, marine, and casualty insurance6351:Surety insurance318019003Euronext BBelgium6282ForeignPublicFORB0.000000.000000.000000.00000Deal InformationThomson Financial Mergers & Acquisitionshttp://www.alacrastore.com/storecontent/cs/67659cs/67659norm European Bank Capital Model: In Basel Limbo We update our Bank Capital Model and M&A Calculator with end-#### data Tier # ratios declined in ####, but there is little evidence so far of much systemic strain on capital from sub-prime...676594300YesD0Article12033771787359178980780619243583566096203293891216370388360364371367357122436636212761286128711996553559753693861677373corp1641921931861001029572781541641462458463558Bank Capital Models4/9/2008 10:05:00 PM150Updating our model for end-2007 provides scant evidence of a systemic capital crunch. Average Tier 1 ratios are down 50 bps from the previous year, but Basel 2 is coming and many banks stand to benefit, although few have given details yet.67659Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/66643cs/66643norm CDO Losses at European Banks Revisited We apply our updated model to European banks to revise our estimates for additional losses on super senior ABS CDOs in the first quarter UBS still looks most vulnerable to further write-downs,...666433037YesD0Article367373328807193360329357362975364corpcorp/reports472783561CDOs91Subprime3/19/2008 2:04:00 AM150UBS still looks most vulnerable to further write-downs on super senior ABS CDO2466643Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/66589cs/66589norm UniCredit: Spread Sensitivity in Structured Credit UniCredit gave a figure of €# million per bp as its sensitivity to spread widening in its €##.# billion structured credit portfolio The bank cannot give any guidance as...665891040YesD0Article1216807corp24102353/17/2008 10:05:00 PM150We extrapolate from sensitivity data given with FY07 earnings, to assess the likely impact on the group of spread widening in the ABS market so far this year.66589Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/66527cs/66527norm European Financial Movers: The Tides of March Most European financials rose and fell together, on tides of good and bad news coming across the Atlantic Earnings threw up few surprises, but we are getting better disclosure from some...66527928YesC0Article80712161143364126132836212763651234corp78102247240353/17/2008 12:06:00 AM150Only a few stocks differentiated themselves last week, as the sector was pushed up and down mainly by news from the US. But some out- and underperformances were thrown up by continued European earnings, disclosures and M&A speculation.66527Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/66237cs/66237norm European Financial Movers: Throwing In The Towel The credit markets virtually stopped functioning last week, with subordinated CDS effectively ceasing to trade amid bid/offer spreads of ## bps Credit spreads were highly volatile and...662371332YesD0Article178717892138358329389364797807361975376corp724161939514646354060Financial Movers3/10/2008 12:12:14 AM150A familiar tale of widening credit spreads and falling share prices66237Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/66242cs/66242norm Fortis Est Veritas Fortis pre-released its expected FY## earnings at the end of January, so there were few surprises in its results announcement It did however publish much more detailed data on its sub-prime and structured credit...662421883YesD0Article807corp24354067Earnings Reports - Financials34Companies with Convertibles3/10/2008 12:12:00 AM150Will Fortis's sub-prime write-downs be sufficient, and is its capitalisation strong enough?66242Credit & Investment ResearchCreditSights