|
|
 |
|
Viewing report
|
|
|
|
BRE Bank S.A. Nov 09
Standard & Poors, Nov 2009
Abstract
Support from strategic shareholder. Good market position and increasingly diversified business lines. Increased credit risk due to vulnerability to slower economic growth and rising unemployment. Low capitalization. The unsolicited public-information ('pi') rating on Poland-based BRE Bank S.A. is supported by Standard & Poor's Ratings Services' belief that the bank would receive support from its strategic shareholder, Germany-based Commerzbank AG (A/Negative/A-1), and BRE's good market position. The rating is constrained by increased credit risk due to vulnerability to slower economic growth and rising unemployment in Poland (foreign currency rating A-/Stable/A-2) which is also hurting already low levels of capitalization. The final rating benefits from uplift over its stand-alone creditworthiness due to parental support. Founded in 1986, BRE is the third largest...
Companies mentioned in this report are: BRE Bank S.A. (Unsolicited Ratings),Commerzbank AG,Commerzbank International S.A.,Commerzbank Europe (Ireland),Dresdner Funding Trust I,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
|
|
|
|
