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Newsroom

S&P Revises CDFH Outlook To Stable From Negative

      2005-06-22

Standard and Poor's Rating Services said yesterday that it had revised the outlook on its long-term credit ratings on CDIB and CDFH to stable from negative.
 
The revision reflects a stabilization of the CDFH group's management and a firming of the venture capital market. The existing management team, which was only installed in 2004, has secured the support of major shareholders and implemented a workable business plan. This is seen as a generally positive development as the group is repositioning itself and needs stable management.
 
The stable outlook also reflects the likelihood that CDIB and the wider CDFH group should be able to maintain credit profiles commensurate with the ratings on the bank and the holding company over the medium term. The ratings may be adjusted upward if the group further diversifies its income sources to reduce the volatility of its performance.

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