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'A/A-1' Ratings Assigned to DZ Bank; Various Rating Actions Following GZ-Bank/DG Bank Merger Aug 01 Product Image

'A/A-1' Ratings Assigned to DZ Bank; Various Rating Actions Following GZ-Bank/DG Bank Merger Aug 01

  • Published: August 2001
  • Standard & Poors

FEATURED COMPANIES

  • DVB Bank SE
  • DZ Bank Ireland PLC
  • DZ PRIVATBANK S.A.
  • MORE

Abstract
LONDON (Standard & Poor's) Aug. 30, 2001--Following the conclusion of Standard & Poor's review of the merger of GZ-Bank AG Frankfurt/Stuttgart (GZ-Bank) and DG Bank Deutsche Genossenschaftsbank AG (DG Bank), the two largest central banks of the German cooperative banking sector, Standard & Poor's today assigned its single-'A' long-term and its 'A-1' short-term counterparty credit ratings to the newly established DZ Bank Deutsche Zentral-Genossenschaftsbank AG (DZ Bank). The outlook is negative. At the same time, the ratings on GZ-Bank and related entities were removed from CreditWatch with negative implications, where they were placed on Feb. 13, 2001, then withdrawn. Standard & Poor's also transferred its single-'A' senior unsecured debt and single-'A'-minus subordinated debt ratings from GZ-Bank to DZ Bank and...

Companies mentioned in this report are:
- DZ BANK AG Deutsche Zentral-Genossenschaftsbank
- GZ-Bank AG Frankfurt/Stuttgart
- DZ Bank Ireland PLC
- DZ PRIVATBANK S.A.
- Deutsche Genossenschafts-Hypothekenbank AG
- Deutsche Apotheker- und Aerztebank eG
- WL BANK AG Westfaelische Landschaft Bodenkreditbank
- DVB Bank READ MORE >

- DZ BANK AG Deutsche Zentral-Genossenschaftsbank
- GZ-Bank AG Frankfurt/Stuttgart
- DZ Bank Ireland PLC
- DZ PRIVATBANK S.A.
- Deutsche Genossenschafts-Hypothekenbank AG
- Deutsche Apotheker- und Aerztebank eG
- WL BANK AG Westfaelische Landschaft Bodenkreditbank
- DVB Bank SE
- Schleswig-Holsteinische Landschaft Hypothekenbank AG

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