NY -- Standard&Poor's CreditWire 1/24/97 -- Standard&Poor's today has placed Selectibanque's single-`A'-minus long-term and 'A-2' short-term ratings on CreditWatch with negative implications (see list below). This decision follows the ongoing decline in Selectibanque's risk profile. Selectibanque specializes in real estate financing for French companies, mainly in the form of leasing. The erosion of Selectibanque's financial situation primarily reflects the impact of an aggressive external growth strategy launched in 1995. This strategy was intended to compensate for the progressive winding down of a lease granted to France Telecom (rated triple- `A'/`A-1'-plus), which represented 33% of the bank's consolidated assets at year-end 1994. In Standard&Poor's view, the impressive increase in Selectibanque's loans and leasing portfolio has
