Standard & Poor's lowered its long-term counterparty credit and senior unsecured debt ratings on Germany-based Bayerische Hypo- und Vereinsbank AG (HVB) on Feb. 21, 2002. The rating actions reflect Standard & Poor's belief that increasingly difficult industry and economic conditions will prevent HVB from achieving improved profitability levels in 2002, which, in Standard & Poor's view, was a precondition to avoid a downgrade (see press release "Bayerische Hypo- und Vereinsbank Rtgs Affirmed; Otlk Neg; WestHyp and WuerttHyp Under Review", published on Aug. 31, 2001, on RatingsDirect, Standard & Poor's Web-based credit analysis system). HVB's core profitability levels have been below those of similarly rated European institutions for some time due to the structural problems of the domestic banking industry. As...
Companies mentioned in this report are:
- UniCredit Bank AG
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >