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Outlook On German Landesbank Helaba And 50 Savings Banks To Stable On Resilience In A Difficult Market; 'A/A-1' Affirmed Sep 10 Product Image

Outlook On German Landesbank Helaba And 50 Savings Banks To Stable On Resilience In A Difficult Market; 'A/A-1' Affirmed Sep 10

  • Published: September 2010
  • Region: Germany
  • Standard & Poors

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  • Frankfurter Sparkasse
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Abstract
In our view, Germany-based Landesbank Hessen-Thueringen Girozentrale (Helaba) and the 50 regional savings banks, which together form the Sparkassen-Finanzgruppe Hessen-Thueringen (SFHT), continue to demonstrate resilience against the economic recession. We observe that the recovery in German markets appears more robust than we previously anticipated. We are therefore revising our outlooks on Helaba and the 50 savings banks to stable from negative and affirming our 'A/A-1' ratings. The stable outlook on SFHT reflects our expectation that Helaba's and the savings banks' financial profiles will remain relatively robust. FRANKFURT (Standard & Poor's) Sept. 16, 2010--Standard & Poor's Ratings Services said today it revised its outlook on Germany-based Landesbank Hessen-Thueringen Girozentrale (Helaba) and the 50 savings banks in Hesse and Thuringia, which together...

Action: Affirmed
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 READ MORE >

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