The ratings on Germany-based Sparkassen-Finanzgruppe Hessen-Thueringen (SFHT) core group members, which include the 50 savings banks in the states of Hesse (AA/Stable/A-1+) and Thuringia (not rated) and its 85% owned central institution Landesbank Hessen-Thueringen Girozentrale (Helaba), are based on the aggregate creditworthiness and expected solidarity support among member banks under emerging stress. The aggregate creditworthiness of SFHT is essential for Standard & Poor's ratings, because we view SFHT as a single, cohesive economic group under our criteria. Moreover, the ratings on Helaba incorporate our assessment of its ties to its 10% owner, Hesse, and our view of Helaba's high systemic importance to Germany. The combination of implicit ownership support from the regional savings banks and Hesse continues to grant the...
Companies mentioned in this report are:
- Landesbank Hessen-Thueringen Girozentrale
- Helaba Dublin Landesbank Hessen-Thueringen International
- Frankfurter Sparkasse
- Naspa Dublin
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