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BULLETIN: DZ Bank Deutsche Zentral-Genossenschaftsbank AG Calls Off Sale of DVB Bank AG Sep 02
Standard & Poors, Sep 2002
Abstract
Standard & Poor's said today that the announcement by DZ Bank Deutsche Zentral-Genossenschaftsbank AG (DZ Bank; A-/Negative/A-2) that it is not disposing of its majority stake in DVB Bank AG (DVB; BBB+/Negative/A-2) is not expected to affect the ratings on DVB in the near future. The ratings on DVB will continue to reflect the bank's membership of the German cooperative banking sector and the sector's system of solidarity, which is underpinned by a comprehensive protection scheme, and which is believed to support DVB in the event that it experienced financial difficulties while it remains a member institution. The ratings, however, will also continue to reflect uncertainties regarding DVB's future role in the cooperative sector and its strategic importance to DZ...
Companies mentioned in this report are: DVB Bank SE,DZ BANK AG Deutsche Zentral-Genossenschaftsbank
Action: S&P Event
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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