Summary: Eurohypo AG May 08
- ID: 1752238
- May 2008
- Standard & Poors
The counterparty credit ratings on Eurohypo AG are based on its core strategic status to Commerzbank AG (A/Stable/A-1), which reflects the bank's full ownership by, and close operational and organizational integration into Commerzbank. This raises the ratings on Eurohypo by one notch. Eurohypo's stand-alone risk and financial profile benefits from its sound position as Germany's largest mortgage bank, the progress of its solid international earnings and risk diversification in recent years, and its largely completed domestic restructuring. Key intrinsic weaknesses are the largely untested resilience of Eurohypo's strongly expanded international and domestic commercial real estate (CRE) loan book against a potential slowdown of the economy; its limited earnings and business diversification, under additional pressure from difficult credit and capital markets;...
Companies mentioned in this report are:
- Hypothekenbank Frankfurt AG
- Commerzbank AG
- Hypothekenbank in Essen AG
- Hypothekenbank Frankfurt International S.A.
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