| Abstract: | On Sept. 29, 2008, Standard&Poor's Ratings Services lowered to 'A' from 'A+' its long-term counterparty credit ratings on the core operational entities and a number of subsidiaries of Belgian-Dutch banking and insurance group Fortis (see Ratings List below). We also affirmed the 'A-1' short-term ratings on these entities. In addition, we lowered to 'A-/A-2' from 'A/A-1' the long- and short-term counterparty credit ratings on Fortis SA/NV and Fortis N.V., the group's two holding companies. The outlooks on all the abovementioned ratings are developing. At the same time, we lowered the ratings on the group's hybrid capital instruments and junior subordinated debt by two notches (see list). The rating actions reflect Standard&Poor's opinion that Fortis group's leading
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| Brief Excerpt: | RESEARCH Ratings Definitions Research Update: Fortis Group Core Entities Downgraded On Weakening Business Position; Outlook Developing Publication date: 29-Sep-2008 Primary Credit Analyst: Elisabeth Grandin, Paris (33) 1-4420-6685;...
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| Report Type: | Research Update
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| Ticker: | 1215Z@NA
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| Issuer: | Fortis Bank SA/NV
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| GICS: | Regional Banks (40101015)
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| Sector: | Asset-Backed Commercial Paper, Asset-Backed Securities, Collateralized Debt Obligations, Commercial MBS, Corporations, Financial Institutions, Global Issuers, High Technology, Insurance, Public Finance, Real Estate Companies, Residential MBS, Structured Finance
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| Country: | Belgium
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| Region: | United States
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| Free Sample: |
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| Format: | | HTML |  |
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