Moody’s spares Denizbank

17 Oct 2011

The possible Dexia group split-up and potential sale of Denizbank are ratings neutral for Denizbank, said Moody’s, as its ratings do not incorporate any rating support from its parent. Denizbank is rated Ba3 by the rating ageny. Last Thursday Fitch also affirmed its BBB- rating on the bank.

“We note very limited interconnectedness between Denizbank and other Dexia group companies,” said Moody’s. “Therefore, we do not expect any adverse impact for Denizbank over the course of the potential dismantling process of the group which ultimately may result in a change of ownership for the bank.”

Despite the ...

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