Nykredit Bank A/S Jan 11
Standard & Poors, January 2011
Abstract
Role as core growth-driving member of the Nykredit Realkredit A/S group. Access to strong brand name and customer base. Very strong capitalization underpinned by parental support. Pressured, though improving, asset quality and earnings. Dependence on capital market income. Lack of geographic diversity. The ratings on Nykredit Bank A/S reflect the bank's core relationship with its parent, Nykredit Realkredit A/S (A+/Stable/A-1), and incorporate a three-notch uplift above its stand-alone credit profile. They also reflect the bank's strong capital position, 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 pressure (albeit abating) on the bank's asset quality and earnings, and its lack of geographic diversity and...
Companies mentioned in this report are: Nykredit Bank A/S,Nykredit Realkredit A/S,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,Totalkredit A/S
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