Reuters: Bankruptcy News: TEXT-S&P: Sparbank 1826 rtgs unaffected by Panaxia default

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TEXT-S&P: Sparbank 1826 rtgs unaffected by Panaxia default Sep 5th 2012, 09:50 Wed Sep 5, 2012 5:50am EDT Sept 05 - Standard & Poor's Ratings Services said today that its ratings on Sparbanken 1826 (BBB+/Stable/A-2) are not affected by an announcement that the bank's partly owned cash handling company Panaxia AB (not rated) is filing for bankruptcy. While the bankruptcy will entail losses for Sparbanken 1826, they are unlikely to be material enough to change our view of the bank's earnings and capital build over our three-year forecast horizon.

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