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163 Local Bavarian Cooperative Banks Assigned 'A/A-1' Ratings; Outlook Stable May 06
Standard & Poors, May 2006
Abstract
FRANKFURT (Standard & Poor's) May 15, 2006--Standard & Poor's Ratings Services said today it assigned its 'A/A-1' ratings to 163 local cooperative banks in the German state of Bavaria (for complete list of newly assigned issuer credit ratings see below). The outlooks are stable. The ratings on the 163 cooperative banks are based on their strong integration into the cooperative banking sector in Germany, which Standard & Poor's views analytically as a coherent economic group despite being legally independent institutions. Therefore, the ratings reflect the aggregate financial strength of the entire sector, which consists of about 1,300 local banks, two central banks, and several strategic product providers. 'This view also takes into account the banks' membership in the sector's system...
Companies mentioned in this report are: DZ BANK AG Deutsche Zentral-Genossenschaftsbank
Action: New Rating
Action: Outlook: Stable
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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