Telekurs ratings affirmed at 'B/C' after plans to merge with SWX, SIS - Fitch |
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Published
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Fri, 18 May 2007 07:14
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MUMBAI (Thomson Financial) - Fitch Ratings has affirmed its ratings on Switzerland's Telekurs Group after the financial services provider announced its plans to merge with Swiss stock exchange operator SWX Group and securities services provider SIS Group.The ratings agency has an individual rating of 'B/C' on Telekurs.The potential merger will help Telekurs to diversify its revenue streams, but may increase operational risk in the short term as the new group is established, Fitch said.Telekurs is owned by a consortium of mainly Swiss banks and is an international service provider focused on card-based payment transactions, electronic payment systems and international financial information.TFN.newsdesk@thomson.comans/manCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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