Bulletin: Bank of Nova Scotia Ratings Unchanged Following Announced Acquisition In Chile

354 word report published Aug 31, 2007

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Abstract:

TORONTO (Standard&Poor's) Aug. 31, 2007--Standard&Poor's Ratings Services today said the ratings and outlook on The Bank of Nova Scotia (AA-/Stable/A-1+) are unchanged following the bank's announcement to acquire 79% of Chile-based Banco del Desarrollo at a cost of US$810 million. The acquisition is consistent with Scotiabank's strategy of measured additions to its international franchise and in line with its overall risk profile. The planned acquisition has been largely anticipated, is complementary to Scotiabank's existing operations in Chile and will add scale and critical mass. The bank's combined market share in Chile will improve to 6.4% in loans and 5.2% in deposits from 2.5% pre-acquisition.

Brief Excerpt:

RESEARCH Ratings Definitions Bulletin: Bank of Nova Scotia Ratings Unchanged Following Announced Acquisition In Chile Publication date: 31-Aug-2007 TORONTO (Standard & Poor's) Aug. 31, 2007--Standard & Poor's Ratings Services today said...

Report Type:

Bulletin

Ticker:

BNS@CN

Issuer:

The Bank of Nova Scotia

Sector:

Global Issuers, Public Finance, Structured Finance

Country:

Canada

Region:

United States

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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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