Wednesday, June 06, 2007

Banca Italease Derivatives Fallout / Shares Suspended

another shoe to drop... still no dwongrade from the rating agencies....wouldn´t be the first time they are late to the party...... check out the label to see the first posts in italease.....

braut sich da ( wie bereits vermutet ) noch mehr ungemach zusammen.... und immer noch kein ratingdowngrade....wäre nicht das erste mal das zu spät reagiert wird....... unter dem label die vorhergehenden posts zu der schieflage

Market status Suspended

Credit Suisse Bought Italease Stock Before 33% Slide

Credit Suisse Group raised its stake in Banca Italease SpA, the Italian lender whose chief executive officer quit yesterday, to 5.3 percent from 2.1 percent on May 22. The stock has plunged 33 percent since then on concern about the company's liability to losses linked to derivatives.

The company on May 31 said clients face losses of 400 million euros after its potential liability linked to derivatives doubled from 225 million euros at the end of last year. Banco Popolare di Verona e Novara Scrl is Italease's biggest shareholder with a 31 percent stake.

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