Research Update: Deutsche Postbank AG Ratings Affirmed At 'A+/A-1'; Withdrawn At Company's Request Jan 13
- Language: English
- Published: January 2013
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Product Type: Research Update
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Deutsche Bank announced its intention to launch a public takeover bid for Germany-based Deutsche Postbank on Sept. 12, 2010. As a consequence, we are placing the 'A-/A-2' ratings on Postbank on CreditWatch with positive implications. At the same time, we are placing the 'BBB+' long-term rating on Germany-based BHW Bausparkasse, a fully owned subsidiary of Postbank, on CreditWatch with positive implications. We expect to resolve the CreditWatch following greater clarity on both the outcome of the public offer and Postbank's likely integration. On Sept. 15, 2010, Standard & Poor's Ratings Services placed its 'A-' long-term and 'A-2' short-term counterparty credit ratings on Germany-based Deutsche Postbank AG (Postbank) on CreditWatch with positive implications. At the same time, we placed our 'BBB+'...
Companies mentioned in this report are: Deutsche Postbank AG,BHW Bausparkasse AG, Hameln,PB Finance (Delaware) Inc.
Action: On CreditWatch:Positive
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Deutsche Postbank AG,BHW Bausparkasse AG, Hameln,PB Finance (Delaware) Inc.