| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers W > Headlines for Whitney Holding Corp. > News item |
S&P cuts Whitney
Standard & Poor's said it lowered its counterparty credit rating on Whitney Holding Corp. to BB from BB+.
The agency said it also lowered the counterparty credit ratings on banking subsidiary Whitney National Bank to BB+/B from BBB-/A-3.
The outlooks are negative.
"The downgrade reflects its view that Whitney's credit measures could continue to deteriorate beyond its earlier expectations and relative to peers'," said S&P credit analyst Daniel E. Teclaw.
"Moreover, Whitney's earnings fundamentals are weaker than peers' and could continue to be surpassed by credit costs through 2010 and into 2011."
© 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.