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Article: HomeSide Inc. & HomeSide Lending Inc. on S&P Watch
- Article from:
- PR Newswire
- Article date:
- October 28, 1997
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Copyright informationCOPYRIGHT 1997 PR Newswire Association LLC. 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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NEW YORK, Oct. 28 /PRNewswire/ -- Standard & Poor's today placed its ratings of HomeSide Inc. and its subsidiary HomeSide Lending, Inc. on CreditWatch with positive implications (See list) following the announcement that HomeSide has agreed to be acquired by higher rated National Australia Bank Ltd. (NAB). NAB has agreed to pay US$1,231 million (A$1,734 million) in cash for HomeSide's common shares. National Australia Bank's and its affiliates' ratings and stable outlooks are affirmed (see list). Also, Standard & Poor's affirmed its ratings on NAB's other U.S. based subsidiary Michigan National Corp. and affiliate (see list).
HomeSide originates residential ...