Fortis Group Convertible And Subordinated Hybrid Equity-Linked Securities Issue Rated 'A' - S&P Global Ratings’ Credit Research

Fortis Group Convertible And Subordinated Hybrid Equity-Linked Securities Issue Rated 'A'

Fortis Group Convertible And Subordinated Hybrid Equity-Linked Securities Issue Rated 'A' - S&P Global Ratings’ Credit Research
Fortis Group Convertible And Subordinated Hybrid Equity-Linked Securities Issue Rated 'A'
Published Nov 30, 2007
892 words — Published Nov 30, 2007
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

PARIS (Standard&Poor's) Nov. 30, 2007--Standard&Poor's Ratings Services said today that it had assigned its 'A' rating to the Convertible And Subordinated Hybrid Equity-Linked Securities (CASHES) issue launched today by Fortis group. This up to €2.5 billion (subject to an additional €500 million option) issue is part of the financing plan of ABN AMRO Bank N.V. (AA-/Positive/A-1+) acquired in October 2007. CASHES will be issued by Fortis Bank SA/NV (AA-/Stable/A-1+), with Fortis SA/NV and Fortis N.V. (the two holding companies of the group, both rated A+/Stable/A-1) being co-obligors in conjunction with Fortis Bank. The Belgian banking and insurance regulator will accept CASHES as part of Fortis Bank's and Fortis group's core equity. The rating on this issue

  
Brief Excerpt:

RESEARCH Fortis Group Convertible And Subordinated Hybrid Equity-Linked Securities Issue Rated 'A' Publication date: 30-Nov-2007 Primary Credit Analyst: Elisabeth Grandin, Paris (33) 1-4420-6685; elisabeth_grandin@standardandpoors.com...

  
Report Type:

Ratings Action

Ticker
FBAVP@BB
Issuer
BNP Paribas Fortis SA/NV
GICS
Diversified Banks (40101010)
Sector
Global Issuers, Public Finance, Structured Finance
Country
Belgium
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Fortis Group Convertible And Subordinated Hybrid Equity-Linked Securities Issue Rated 'A'" Nov 30, 2007. Alacra Store. May 05, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Fortis-Group-Convertible-And-Subordinated-Hybrid-Equity-Linked-Securities-Issue-Rated-A-616478>
  
APA:
S&P Global Ratings’ Credit Research. (). Fortis Group Convertible And Subordinated Hybrid Equity-Linked Securities Issue Rated 'A' Nov 30, 2007. New York, NY: Alacra Store. Retrieved May 05, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Fortis-Group-Convertible-And-Subordinated-Hybrid-Equity-Linked-Securities-Issue-Rated-A-616478>
  
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