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Investire Oggi - perpetue_week_50_2010 - © onik

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ginestra 17-12-<strong>2010</strong> 16:53<br />

Citazione:<br />

<strong>Investire</strong> <strong>Oggi</strong> - <strong>perpetue</strong>_<strong>week</strong>_<strong>50</strong>_<strong>2010</strong> - <strong>©</strong> <strong>onik</strong><br />

Originalmente inviato da Cat XL (Messaggio 1929649)<br />

Per chi fosse interessato ad una interessante alternativa ai finanziari ci sarebbe un Groupe Casino<br />

(supermercati) CMS 10 + 100bp (emissione di EUR 600m). Gira sui 60 ma con i tassi in rialzo potrebbe<br />

esssere interessante. Unico caveat e' armarsi di pazienza perche' io ce l'ho da piu' un anno e non si e'<br />

praticamente mosso anzi e sceso un pochettino ultimamente.<br />

ciao Cat<br />

presa oggi a 62<br />

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ben accetti commenti \ notizie su casino groupe:benedizione:<br />

Zorba 17-12-<strong>2010</strong> 16:54<br />

S&P slashes Allied Irish Banks lower tier 2 debt to CCC<br />

(ADPnews) - Dec 17, <strong>2010</strong> - S&P today cut its rating on Allied Irish Banks' (ISE:ALBK) lower tier 2<br />

securities to CCC from B citing a "clear and present risk" of a restructuring of this nondeferrable<br />

subordinated debt.<br />

At the same time, the service maintained the BBB/A-2 ratings on the bank and kept intact the ratings on<br />

other issues benefiting from a government guarantee. However, the counterparty credit ratings of the bank<br />

remain on "negative" watch pending the outcome of a rating review on Ireland.<br />

The Irish Cabinet passed a law that empowers the finance minister to make subordinated debt orders to pass<br />

some of the risk onto subordinated creditors of state-backed institutions.<br />

At the same time, the bank was required by regulators to raise EUR 9.8 billion in core tier one capital by the<br />

end of February 2011, which increases the possibility of a debt exchange, given its very limited access to<br />

external funding.<br />

Besides, Bank of Ireland, another domestic lender facing much smaller capital requirement than Allied Irish<br />

Banks, has carried a subordinated debt exchange, the service noted.<br />

If Allied Irish Banks follows suit and announces a debt exchange, the ratings on the lower tier 2 instruments<br />

will be slashed further to D, or default, as the agency views the offer as a "distressed exchange".<br />

The counterparty credit ratings on Allied Irish Banks combine its stand-alone credit profile assessed at bb-,<br />

given its weak liquidity and poor asset quality, and a four-notch uplift due to significant recent and future<br />

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