Research Update: Commerzbank And Subsidiaries Ratings Affirmed, Off Watch Neg After Sovereign Rating Actions; Outlook Negative Jan 12
- Language: English
- Published: January 2012
FRANKFURT (Standard & Poor's) Nov. 12, 2007--Standard & Poor's Ratings Services said today it affirmed its 'A/A-1' long- and short-term counterparty credit ratings on Germany-based Commerzbank AG. The outlook is stable. The affirmation follows the bank's announcement to acquire the remaining 49% of Hypothekenbank in Essen (EssenHyp), which it does not already own, by January 2008. The affirmation also reflects a review of Commerzbank's third-quarter results. "The impact of the acquisition on Commerzbank's capital ratio is marginal," said Standard & Poor's credit analyst Stefan Best. "Although EssenHyp had already been integrated into Commerzbank's risk-management systems, we consider that clarity in EssenHyp's ownership structure will foster closer business integration into the Commerzbank group's public finance strategy and treasury operations," he added....
Companies mentioned in this report are:
- Commerzbank AG
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. SHOW LESS READ MORE >
- Commerzbank AG