johnny1982
Forumer storico
Certo dimmi che ho stufato , che sono un rimpi pa lle , idio ta ... qutto quello che vuoi ... sei libero di dirlo ed io voglio essere libero di parlare delle minus...
Obbligazioni perpetue e subordinate SNS Reeal in diretta: storia di un esproprio - Notizie, informazioni e commenti (18 lettori)
Certo dimmi che ho stufato , che sono un rimpi pa lle , idio ta ... qutto quello che vuoi ... sei libero di dirlo ed io voglio essere libero di parlare delle minus...
bluto
Forumer attivo
il problema johnny che questo è un forum pubblico dove sai bene che ci sono lettori MOLTO interessati...
se vuoi notizie certe gli puoi scrivere all'Avvocato no? quindi dov'è il problema?
non è una questione di trasparenza, ma di utilità, parlarne qui serve solo a fare casino con la storia delle minus
basta aver saputo che si stanno muovendo, se vuoi maggiore notizie scrivi, quando ne avranno da comunicare scriveranno a noi loro
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fenox
Forumer storico
sei proprio sicuro di questo? non lo credi eccessivo? e comunque se anche così fosse, visto che è stato scritto tutto e il suo contrario, I LETTORI INTERESSATI forse dovrebbero restare ancor più confusi. Personalmente sono contrario ad ogni forma di censura (volgarità e insulti a parte) e ho difficoltà a comprenderne la ratio e i criteri soggettivi e oggettivi in base ai quali viene esercitata a maggior ragione su un forum.
Ilandro
Forumer attivo
Non lo crediamo eccessivosei proprio sicuro di questo? non lo credi eccessivo? e comunque se anche così fosse, visto che è stato scritto tutto e il suo contrario, I LETTORI INTERESSATI forse dovrebbero restare ancor più confusi. Personalmente sono contrario ad ogni forma di censura (volgarità e insulti a parte) e ho difficoltà a comprenderne la ratio e i criteri soggettivi e oggettivi in base ai quali viene esercitata a maggior ragione su un forum.
bluto
Forumer attivo
Standard & Poor's (S & P) increases its rating on the insurance activities of SNS REAAL (SR.AE) to A-(from BBB) with a negative outlook. In early February, SNS REAAL Insurance Operations, or SRIO, already put following the nationalization of SNS REAAL and enhancement on CreditWatch Positive reflects therefore the strategic position of the group in the short term, according to S & P. The continuing uncertainty SRIO is therefore to give the outlook, best weather the U.S. credit evaluator. The negative outlook is mainly due to the risks in the long term. Thus, there remains uncertainty about the capital position of the group. Also affect the rating is the restructuring plan for SNS REAAL, which the European Commission has yet to give approval. There are also risks for implementing the strategy, said S & P
MARKET TALK: S&P verhoogt rating verzekeringstak SNS, outlook negatief - Beurs.nl
MARKET TALK: S&P verhoogt rating verzekeringstak SNS, outlook negatief - Beurs.nl
NoWay
It's time to play the game
Ecco... siamo alla follia pura!!!
DinoP
life is good
E questi sono i fenomeni che ci dettano l'agenda:
Il Pig chiede tempo
Dijsselbloem: più tempo per l'Olanda
L'Olanda non ce la fa. Chiederà un anno in più per tagliare il suo deficit
7 maggio 2013
L'Olanda non ce la fa. Chiederà un anno in più per tagliare il suo deficit - Il Sole 24 ORE
Il Pig chiede tempo
Dijsselbloem: più tempo per l'Olanda
L'Olanda non ce la fa. Chiederà un anno in più per tagliare il suo deficit
7 maggio 2013
L'Olanda non ce la fa. Chiederà un anno in più per tagliare il suo deficit - Il Sole 24 ORE
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Cat XL
Shizuka Minamoto
SNS REAAL Insurance Operations Ratings Raised To 'A-'; Outlook Negative
Research Update:
SNS REAAL Insurance Operations Ratings Raised
To 'A-'; Outlook Negative
To 'A-'; Outlook Negative
Overview
·
The insurance operations of the SNS REAAL group (collectively, SRIO) were
placed on CreditWatch positive on Feb. 5, 2013, after the Dutch
government nationalized the whole SNS REAAL group.
placed on CreditWatch positive on Feb. 5, 2013, after the Dutch
government nationalized the whole SNS REAAL group.
·
We have resolved the CreditWatch placement and raised the ratings to 'A-'
from 'BBB'.
from 'BBB'.
·
The negative outlook reflects our view that SRIO's competitive position
may have been damaged, as well as uncertainty over the long-term capital
position, the possibility that the European Commission's restructuring
plan may place the group under impositions, and strategic execution risk.
may have been damaged, as well as uncertainty over the long-term capital
position, the possibility that the European Commission's restructuring
plan may place the group under impositions, and strategic execution risk.
Rating Action
On May 7, 2013, Standard & Poor's Rating Services raised to 'A-' from 'BBB'
its insurer financial strength and counterparty credit ratings on the
insurance operating companies of the SNS REAAL group--SRLEV N.V. and REAAL
Schadeverzekeringen N.V. (collectively known as SNS REAAL Insurance operations
or SRIO). We also raised to 'BBB+' from 'BBB-' our counterparty credit rating
on the group's insurance holding company, REAAL Verzekeringen N.V. At the same
time, we removed these ratings from CreditWatch with positive implications,
where they had been placed on Feb. 5, 2013. The outlook is negative.
In addition, we maintained the issue credit ratings on the 30-year and
perpetual subordinated debt issues issued by SRLEV N.V. on SRLEV's two subdebt
issues at 'C' and 'CC', respectively. The latter remains on CreditWatch
negative.
its insurer financial strength and counterparty credit ratings on the
insurance operating companies of the SNS REAAL group--SRLEV N.V. and REAAL
Schadeverzekeringen N.V. (collectively known as SNS REAAL Insurance operations
or SRIO). We also raised to 'BBB+' from 'BBB-' our counterparty credit rating
on the group's insurance holding company, REAAL Verzekeringen N.V. At the same
time, we removed these ratings from CreditWatch with positive implications,
where they had been placed on Feb. 5, 2013. The outlook is negative.
In addition, we maintained the issue credit ratings on the 30-year and
perpetual subordinated debt issues issued by SRLEV N.V. on SRLEV's two subdebt
issues at 'C' and 'CC', respectively. The latter remains on CreditWatch
negative.
Rationale
The upgrade reflects the inherent strengths of the insurance operations, which
have been largely undimmed by the travails of its company and sister bank. We
resolved the CreditWatch placement because we consider that the near-term
strategic position of SRIO is now settled and we are able to fully recognize
the group's strengths. The negative outlook reflects our view that the
remaining risk factors are likely to play out over a longer timescale. Thus,
the ongoing uncertainty around SRIO is best expressed in the form of an
outlook. We do not expect to see any material change to the ownership or
makeup of the SNS REAAL group for the next 12-18 months. Should this change,
we may reconsider the ratings and outlook.resolved the CreditWatch placement because we consider that the near-term
strategic position of SRIO is now settled and we are able to fully recognize
the group's strengths. The negative outlook reflects our view that the
remaining risk factors are likely to play out over a longer timescale. Thus,
the ongoing uncertainty around SRIO is best expressed in the form of an
outlook. We do not expect to see any material change to the ownership or
makeup of the SNS REAAL group for the next 12-18 months. Should this change,
We first placed the ratings on SRIO on CreditWatch developing in July 2012,
when the group announced a strategic review that could have seen the insurance
operations broken up or sold off. In the immediate aftermath of the
nationalization in February 2013, we changed the CreditWatch implications to
positive to reflect our view that the separation of SRIO from SNS Bank could
strengthen SRIO's creditworthiness.
While a range of strategic options remain under consideration, our base-case
scenario reflects the expectation that SRIO will remain intact, associated
with SNS Bank under the current group structure and owned by the Dutch state
for at least the next 18 months and probably beyond. Should alternative
scenarios emerge, we may reconsider the ratings. In the longer term, SRIO
could be detached from SNS Bank and returned to the private sector, but we do
not expect this to happen in the next 12-18 months.
We assess SRIO on a stand-alone basis, having in March 2013 decoupled its
ratings from those on SNS Bank, which previously constrained it. We do not
impute any support to the ratings based on SRIO's governmental ownership
because the relationship is likely to be relatively short.
We regard SRIO's competitive position as strong. We consider that there is
potential for reputational damage arising from the nationalization. However,
we consider that the group's open architecture and multibrand strategy will
limit reputational damage. The European Commission may also impose operational
and pricing restrictions on SRIO, as a state-owned insurer. Based on
precedents within the Dutch market, we expect the impact of the Commission's
restrictions to be significant in the near term. Operating performance has
held up well through the group's travails in recent years and we regard it as
strong.
We also continue to regard SRIO's capitalization as strong. Capital adequacy,
as measured using Standard & Poor's capital model is extremely strong;
however, we do not expect the group to maintain this high level of
capitalization in the medium or long term. Conversely, following the deferral
of the coupons on SRLEV's subdebt, we regard financial flexibility as
marginal.
We do not expect the delayed 2012 financial statements to show a material
impairment to SRIO's capital base. We have made a cautious estimate of 2013
performance, forecasting lower non-life premium and a post-tax profit of €150
million. We expect, however, that SRIO will return to growth and stronger
profitability thereafter.
As we stated on March 29, 2013, SRLEV's 30-year and perpetual subordinated
issues will be rated 'C' and 'CC', respectively, while they are required by
the European Commission to defer their coupon payments. These ratings are
unchanged by the rating action on their issuer.when the group announced a strategic review that could have seen the insurance
operations broken up or sold off. In the immediate aftermath of the
nationalization in February 2013, we changed the CreditWatch implications to
positive to reflect our view that the separation of SRIO from SNS Bank could
strengthen SRIO's creditworthiness.
While a range of strategic options remain under consideration, our base-case
scenario reflects the expectation that SRIO will remain intact, associated
with SNS Bank under the current group structure and owned by the Dutch state
for at least the next 18 months and probably beyond. Should alternative
scenarios emerge, we may reconsider the ratings. In the longer term, SRIO
could be detached from SNS Bank and returned to the private sector, but we do
not expect this to happen in the next 12-18 months.
We assess SRIO on a stand-alone basis, having in March 2013 decoupled its
ratings from those on SNS Bank, which previously constrained it. We do not
impute any support to the ratings based on SRIO's governmental ownership
because the relationship is likely to be relatively short.
We regard SRIO's competitive position as strong. We consider that there is
potential for reputational damage arising from the nationalization. However,
we consider that the group's open architecture and multibrand strategy will
limit reputational damage. The European Commission may also impose operational
and pricing restrictions on SRIO, as a state-owned insurer. Based on
precedents within the Dutch market, we expect the impact of the Commission's
restrictions to be significant in the near term. Operating performance has
held up well through the group's travails in recent years and we regard it as
strong.
We also continue to regard SRIO's capitalization as strong. Capital adequacy,
as measured using Standard & Poor's capital model is extremely strong;
however, we do not expect the group to maintain this high level of
capitalization in the medium or long term. Conversely, following the deferral
of the coupons on SRLEV's subdebt, we regard financial flexibility as
marginal.
We do not expect the delayed 2012 financial statements to show a material
impairment to SRIO's capital base. We have made a cautious estimate of 2013
performance, forecasting lower non-life premium and a post-tax profit of €150
million. We expect, however, that SRIO will return to growth and stronger
profitability thereafter.
As we stated on March 29, 2013, SRLEV's 30-year and perpetual subordinated
issues will be rated 'C' and 'CC', respectively, while they are required by
the European Commission to defer their coupon payments. These ratings are
Outlook
The negative outlook reflects our view that despite its inherent strengths,
SRIO may find it difficult to maintain its performance over the next 12-24
months.
The insurance group's franchise may be impaired by the nationalization, and
the European Commission may impose restrictions on the state-owned insurer's
ability to compete on price within the Dutch market. It is possible that the
Commission may also impose wider restrictions.
The group restructuring plan has yet to be submitted; the outcome will not be
known until toward the end of this year at the earliest. Therefore, its
implications cannot be predicted. Separating SRIO from SNS Bank carries
inherent execution risk, which could be enhanced if continuing problems within
the bank demand group management's focus. Should any of these factors
materially impair the group's performance, we could take a negative rating
action.
Capitalization is expected to remain very strong according to our model
throughout the forecast period. Should significant capitalization be
upstreamed out of SRIO, this too could trigger a negative rating action.
We could revise the outlook to stable if we consider that SRIO's competitive
position has not been impaired by the above named factors and if we gain
comfort over the development and execution of the group's strategy for SRIO.SRIO may find it difficult to maintain its performance over the next 12-24
months.
The insurance group's franchise may be impaired by the nationalization, and
the European Commission may impose restrictions on the state-owned insurer's
ability to compete on price within the Dutch market. It is possible that the
Commission may also impose wider restrictions.
The group restructuring plan has yet to be submitted; the outcome will not be
known until toward the end of this year at the earliest. Therefore, its
implications cannot be predicted. Separating SRIO from SNS Bank carries
inherent execution risk, which could be enhanced if continuing problems within
the bank demand group management's focus. Should any of these factors
materially impair the group's performance, we could take a negative rating
action.
Capitalization is expected to remain very strong according to our model
throughout the forecast period. Should significant capitalization be
upstreamed out of SRIO, this too could trigger a negative rating action.
We could revise the outlook to stable if we consider that SRIO's competitive
position has not been impaired by the above named factors and if we gain
amorgos34
CHIAGNI & FOTTI SRL
MINUS con AKROS !!!!
Ottima notizia da parte di Akros, che sta parecchio migliorando certi aspetti.
Sono state riconosciute da marzo.
Complimenti a chi, potete immaginare a chi mi riferisco, lavorando nell'ombra, ha fatto sì che tutto questo si realizzasse.
Grazie Akros e Grazie Z...A !
Ora sotto con le altre banche.
Prego astenersi onanisti.
Alcuni potrebbero levarsi certi sassolini dalle scarpe, sono sicuro che eviteranno.
Ottima notizia da parte di Akros, che sta parecchio migliorando certi aspetti.
Sono state riconosciute da marzo.
Complimenti a chi, potete immaginare a chi mi riferisco, lavorando nell'ombra, ha fatto sì che tutto questo si realizzasse.
Grazie Akros e Grazie Z...A !
Ora sotto con le altre banche.
Prego astenersi onanisti.
Alcuni potrebbero levarsi certi sassolini dalle scarpe, sono sicuro che eviteranno.
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