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Bank Industry Risk Analysis: Denmark (Kingdom of) Jun 04
Standard & Poors, June 2004
Abstract
The financial strength of the Danish banking system is sound. The Kingdom of Denmark enjoys a very open and diversified economy, with no apparent systemic risks or structural problems. The household sector remains financially well consolidated, in spite of the losses suffered in the equity markets in 2002 and 2003 and a sustained trend of increasing financial leverage. The Danish corporate sector has also lost some momentum over the past two years, but problems have been moderate, although corporate bankruptcies have increased. Denmark's economy remains very strong, as reflected in the credit rating on the Kingdom of Denmark, which has been AAA/Stable/A-1+ since February 2001, based on the country's formidable track record of robust macroeconomic stability and structural reform. The...
Companies mentioned in this report are: Denmark (Kingdom of),Danske Bank A/S,Norddeutsche Landesbank Girozentrale (Unsolicited Ratings),Skandinaviska Enskilda Banken AB (publ),Swedbank AB,Svenska Handelsbanken,Nykredit Realkredit A/S,Nordea Bank Danmark A/S,KommuneKredit,Realkredit Danmark A/S,HSH Nordbank AG
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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