Research Update: Outlook On German Landesbank Helaba And 50 Savings Banks To Stable On Resilience In A Difficult Market; 'A/A-1' Affirmed Sep 10
Standard & Poors, September 2010
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. On Sept. 16, 2010, Standard & Poor's Ratings Services revised its outlook on Germany-based Landesbank Hessen-Thueringen Girozentrale (Helaba) and the 50 savings banks in Hesse and Thuringia, which together form the Sparkassen-Finanzgruppe Hessen-Thueringen (SFHT),...
Action: Affirmed
Action: Outlook: Stable
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Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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