The ratings on Helaba Dublin Landesbank Hessen-Thüringen International (Helaba Dublin) are based on the support from its parent, Landesbank Hessen-Thueringen Girozentrale (Helaba; AAA/Negative/A-1+), and indirectly from State of Hesse (Hesse; AAA/Negative/A-1+), and also take into account the full integration into and close relationship with Helaba. The ratings also reflect that Helaba Dublin does not formally benefit from the maintenance obligation (Anstaltslast) and statutory guarantee (Gewährträgerhaftung), as Standard & Poor's makes slight distinctions between Landesbanks with direct state ownership--as in the case of Helaba--and their nonguaranteed core subsidiaries. However, under the Irish Companies Acts, 1963 to 1990, Helaba has unlimited liability for Helaba Dublin in the unlikely event of the liquidation of the bank, as Helaba Dublin's legal status is that...
Companies mentioned in this report are:
- Helaba Dublin Landesbank Hessen-Thueringen International
- Landesbank Hessen-Thueringen Girozentrale
- Hesse (State of)
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