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Article: Standard & Poor's Lowers Long-Term Counterparty Rating On HongkongBank of Australia Ltd. to single-'A'
- Article from:
- PR Newswire
- Article date:
- September 2, 1998
CopyrightCOPYRIGHT 1998 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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MELBOURNE, Australia, Sept. 2 /PRNewswire/ -- Standard & Poor's today lowered its long-term counterparty rating on HongkongBank of Australia to single-'A' from single-'A'-plus, while the short-term counterparty rating was affirmed at 'A-1'. The outlook is negative. This rating action follows the downgrade of the short-term foreign currency rating on HongkongBank of Australia's parent, Hongkong & Shanghai Banking Corp, to 'A-1' from 'A-1'-plus as a result of the downgrade on the Hong Kong Special Administrative Region. The rating on HongkongBank of Australia is removed from CreditWatch with negative implications, where it was placed on June 23, 1998. The rating ...