PARIS (Standard&Poor's CreditWire) June 23, 1999--Standard&Poor's today assigned its double-'A'-minus long-term ratings to Generale Bank (Generale), which is changing its name to Fortis Bank. At the same time, Standard&Poor's upgraded its short-term ratings on the bank to 'A-1'-plus from 'A-1'. The outlook is stable. In a related action, Standard&Poor's withdrew its long- and short-term ratings on ASLK-CGER Bank (ASLK-CGER). All debt previously guaranteed by ASLK-CGER is now guaranteed by Fortis Bank. (See list below for all rating actions). These rating actions were taken following Generale's absorption of ASLK-CGER and simultaneous name change to Fortis Bank on June 23, 1999. The ratings on newly created Fortis Bank reflect its strong position in the
