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Viewing report
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BRE Bank S.A. Oct 08
Standard & Poors, Oct 2008
Abstract
Support from strategic shareholder Good market position and increasingly diversified business lines Satisfactory funding and liquidity profile Higher-than-average economic and industry risks of operating in Poland Elevated credit risks, in light of untested retail loan growth and increased foreign currency lending Barely adequate levels of capitalization The public information ('pi'; unsolicited) rating on Poland-based BRE Bank S.A. reflects its increased strategic importance for, and integration with, its strategic shareholder, Germany-based Commerzbank AG (A/Negative/A-1). The rating also reflects its good market position and satisfactory funding and liquidity profile. The ratings are constrained by elevated credit risks, in light of untested retail loan growth and increased foreign currency lending, and the bank's modest capitalization. The final rating benefits from uplift over its...
Companies mentioned in this report are: BRE Bank S.A. (Unsolicited Ratings),Dresdner Bank AG,Dresdner U.S. Finance Inc.,Commerzbank AG,Commerzbank International S.A.,Commerzbank Europe (Ireland),Dresdner Funding Trust I,Dresdner Funding Trust II,EUROHYPO Europaeische Hypothekenbank S.A.,Erste Europaeische Pfandbrief- und Kommunalkreditbank AG,Dresdner Funding Trust IV,Eurohypo AG,Commerzbank Capital Funding Trust I,Commerzbank Capital Funding Trust II,HT1 Funding GmbH,UT2 Funding PLC,Commerzbank Capital Funding Trust III
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
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