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Article: S&P Revs San Paolo di Torino's Otlk to Pos;Rtgs Affmd.
- Article from:
- Business Wire
- Article date:
- August 4, 1997
CopyrightCOPYRIGHT 1997 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LONDON--(BUSINESS WIRE)--Standard & Poor's CreditWire 8/4/97-- Standard & Poor's today has revised its outlook on Istituto Bancario San Paolo di Torino SpA (San Paolo Bank) to positive from stable. At the same time, Standard & Poor's affirms its single-'A' long-term senior unsecured and counterparty and 'A-1' short-term counterparty ratings of the bank. (See list below). The rating action reflects Standard & Poor's expectation that the steps being taken by management to improve asset quality and profitability will translate into a stronger financial profile in the years ahead.
San Paolo Bank's ratings balance the bank's strong domestic franchise against ...