| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers V > Headlines for Veneto Banca SCPA > News item |
S&P lifts Veneto Banca preferreds to CC
S&P said it raised the rating on the €200 million non-cumulative perpetual preferred stock issued by Veneto Banca SCPA to CC from D.
On Dec. 21, Veneto Banca resumed full coupon payment due on its €200 million hybrid instrument, the agency said.
As a result, S&P said it raised the rating on the instrument to CC from D.
The ratings reflect that despite resumption of coupon payments for this year, the bank will likely suspend next year's coupon payment absent any unforeseen positive development over the next 12 months, the agency said.
S&P said it considers this default risk to be consistent with a CCC scenario under the agency’s criteria.
The bank is expected to remain loss making in 2016 and 2017, the agency added.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.