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Summary: Landesbank Hessen-Thueringen Girozentrale Jul 05
Standard & Poors, July 2005
Aggregate financial strength and cohesiveness of the Savings Banks and Landesbank Hessen-Th-ringen (Helaba); Cooperation and bilateral agreements with savings banks underpinned by a limited protection scheme; and Helaba's conservative underwriting standards and comfortable collateral positions. Low profitability and poor internal capital generation; Limited revenue diversification; and Reliance on wholesale funding. The unguaranteed ratings on Germany-based Landesbank Hessen-Th-ringen (Helaba) are based on Standard & Poor's view of the "S-Finanzgruppe Hessen-Th-ringen" (SFHT)--combining Helaba and its owner savings banks--as a single economic group including implicit ownership support for Helaba from the State of Hesse (AA+/Stable/A-1+). The ratings also reflect the expectation that the cooperation and integration within the group will ultimately enhance the financial strength of the member banks, and that Helaba will...
Companies mentioned in this report are: Landesbank Hessen-Thueringen Girozentrale,Hesse (State of)
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Landesbank Hessen-Thueringen Girozentrale,Hesse (State of)