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Banking Industry Country Risk Assessment On Germany Raised To Group 2 From Group 3 Mar 07
Standard & Poors, March 2007
Abstract
FRANKFURT (Standard & Poor's) March 21, 2007--Standard & Poor's Ratings Services said today it raised its Banking Industry Country Risk Assessment (BICRA) on Germany to Group 2 from Group 3. This action primarily reflects the improved economic environment in Germany and its beneficial impact on the creditworthiness of German banking groups (economic risk), whereas industry risk still lags comparable banking systems due to less favorable competitive dynamics. The improvement in banking industry country risk is a positive element that underpins all bank credit ratings in Germany. This action alone will not lead to upgrades of German banks, but combined with positive trends in other factors specific to an individual bank it could contribute to a change in a bank's ratings....
Companies mentioned in this report are: Deutsche Bank AG,Dresdner Bank AG,Landesbank Hessen-Thueringen Girozentrale,Norddeutsche Landesbank Girozentrale (Unsolicited Ratings),WestLB AG (Unsolicited Ratings),Bayerische Landesbank,Germany (Federal Republic of) (Unsolicited Ratings),Commerzbank AG,DekaBank Deutsche Girozentrale,DZ BANK AG Deutsche Zentral-Genossenschaftsbank ,Deutsche Pfandbriefbank AG,UniCredit Bank AG,Deutsche Genossenschafts-Hypothekenbank AG,Landesbank Baden-Wuerttemberg,Sachsen Bank,DVB Bank SE,Eurohypo AG,Depfa Bank PLC,HSH Nordbank AG
Action: General Comment
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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