S&P: Greater Bay Bancorp unaffected

Standard & Poor's said that Greater Bay Bancorp's (BBB-/stable/A-3) announcement of a delay in the release of second quarter financials due to accounting, operating and administrative practices associated with stock option grants would have no effect on the rating.

While any delay in the reporting of financials raises concerns, the agency said it is currently satisfied that this should not have a material impact on creditworthiness, adding it will continue to monitor the situation and should things change or if this causes a delay in the filing of the 10-Q, it will determine at that time if any rating action is required.

© 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.