Nykredit Bank A/S Jan 09
Standard & Poors, January 2009
Abstract
Core subsidiary to the Nykredit Realkredit A/S group Access to strong brand name and customer base Financial flexibility through parental support Strong asset quality, currently under some pressure Relatively dependent on capital market income Exposed to the slowdown in the Danish economy Low geographic diversification The ratings on Nykredit Bank A/S reflect the bank's status as a core subsidiary to the Nykredit Realkredit group (A+/Stable/A-1) and its strong asset quality. They also factor in expected parental support, primarily in the form of capital injections and access to a strong brand name and customer base. The ratings are constrained by the low geographic diversification of the bank, its dependence on capital market-related revenues, and Standard & Poor's Ratings Services' concerns about...
Companies mentioned in this report are: Nykredit Bank A/S,Nykredit Realkredit A/S,Nykredit Forsikring A/S (Unsolicited Ratings),Totalkredit A/S
Action: Review
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: Full Analysis
Nykredit Bank A/S,Nykredit Realkredit A/S,Nykredit Forsikring A/S (Unsolicited Ratings),Totalkredit A/S
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