Summary: DG Bank Deutsche Genossenschaftsbank AG Mar 01
- ID: 1786864
- March 2001
- Standard & Poors
The rating on DG Bank Deutsche Genossenschaftsbank AG's (DG Bank) covered bonds primarily reflects the bonds' collateral and the protections afforded by German insolvency and banking laws. The covered bonds in many aspects are similar to Pfandbriefe that are issued by other German financial institutions. DG Bank maintains a segregated, revolving pool of assets on which the holders of covered bonds have a preferential claim. The amount of collateral is sufficient to absorb potential credit losses, pay interest on, and repay principal of the covered bonds as they become due, even in the unlikely event that the bank becomes insolvent or is unable to meet its other obligations. The quality of the collateral and the adequacy of cash flows are...
Companies mentioned in this report are:
- DZ BANK AG Deutsche Zentral-Genossenschaftsbank
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