Research Update: Deutsche Postbank And BHW Bausparkasse Ratings On CreditWatch Positive On Takeover Announcement By Deutsche Bank
- ID: 1711807
- September 2010
- Standard & Poors
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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.