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S&P: E*Trade unaffected
Standard & Poor's said there will be no affect on the ratings or outlook on E*Trade
Financial Corp. (B+/positive/--) or E*Trade Bank (BB/stable/B) as a result of E*Trade's lost arbitration proceedings with its former Israeli licensee.
The $14.5 million award will be charged to non-operating results in fourth-quarter 2004 as facilities restructuring and other exit charges. Core earnings remain unchanged.
S&P said this charge is not significant to the financial resources and earnings power of E*Trade.
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