Fitch Revises Rating Watch on Bermuda Commercial Bank to Evolving.CHICAGO -- Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. has revised the Rating Watch status for Bermuda Commercial Bank's (BCB BCB Banco Central do Brasil (Brazil's central bank) BCB Borland C++ Builder BCB Bangladesh Cricket Board BCB Benzocyclobutene (low loss dielectric substrate) BCB Bumiputra-Commerce Bank BCB Broadcast Band ) short-term and Individual ratings to Evolving from Negative. Fitch fitch: see polecat. also affirms BCB's support rating. This action follows BCB's announcement that it is discussing a potential merger or alliance with other financial institutions, and the confirmation of one potential partner that such talks are ongoing. Rating Watch Evolving signals that the next rating action could either be Positive or Negative. Fitch believes that there is now a significant possibility that BCB could be acquired by a higher rated entity, which would likely result in an upgrade to BCB's ratings. Fitch continues to follow this situation closely. Fitch has revised the Rating Watch on the following ratings to Evolving from Negative: Bermuda Commercial Bank --Short-term `F2'; --Individual `C'. Fitch also affirms the following rating: Bermuda Commercial Bank --Support `5'. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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