LONDON -- Standard & Poor's CreditWire 1/21/97 -- Standard & Poor's today has assigned its triple-`B'-minus long-term and `A-3' short-term counterparty ratings to Ceska Sporitelna a.s. ("CS"). The outlook is stable. The ratings reflects Ceska Sporitelna's position as the most important player in the Czech retail banking market and the major provider of interbank liquidity. As a failure of Ceska Sporitelna would have significant negative implications for the whole Czech banking sector and the Czech economy, Standard & Poor's believes it highly likely that the Czech government would provide support to the bank, if needed, although there is no formal guarantee in place. Through the National Property Fund and the Restitution Investment Fund, the Czech government indirectly holds 57.3% of
