(Editor's note: This article originally published earlier today has been republished to amend the previously misstated short-term rating in the headline. A corrected version follows.) PARIS (Standard&Poor's) Dec. 21, 2004--Standard&Poor's Ratings Services said today it has revised its outlook on Switzerland-based Banque Cantonale Vaudoise (BCV) to stable from negative. At the same time, Standard&Poor's affirmed its 'A-' long-term and 'A-2' short-term counterparty credit ratings on the bank. The ratings on BCV continue to be underpinned by the Canton of Vaud's (A/Stable/--) proven commitment to provide capital support to the bank in time of need, despite the absence of a formal guarantee. "The ratings also reflect the tangible improvement in BCV's operating performance, which has
