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Bulletin: Ratings On German Landesbanks' Grandfathered Guaranteed Obligations Unaffected By Recent Actions On Counterparty Ratings May 09
Standard & Poors, May 2009
Abstract
FRANKFURT (Standard & Poor's) May 8, 2009--Standard & Poor's Ratings Services said today that the German Landesbanks' grandfathered guaranteed obligations incurred before the state guarantees were abolished in July 2005 are unaffected by the recent rating actions on the counterparty credit ratings on rated Landesbanks. (For further details see 'Business Model And Credit Concerns Prompt Downgrades And Negative Outlooks On German Landesbanks,' published on May 6, 2009, on RatingsDirect.) Standard & Poor's has never rated hybrid capital instruments issued by the Landesbanks....
Companies mentioned in this report are: Bayerische Landesbank,Landesbank Hessen-Thueringen Girozentrale,Norddeutsche Landesbank Girozentrale (Unsolicited Ratings),WestLB AG (Unsolicited Ratings),Landesbank Baden-Wuerttemberg,HSH Nordbank AG
Action: Bulletin
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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