Pfandbrief Bank International S.A. Jul 01
Standard & Poors, July 2001
Abstract
The counterparty ratings on Luxembourg-based Pfandbrief Bank International S.A. (PBI) are based on the bank's close integration with, and supervision by, its shareholder banks with regard to PBI's strategy and risk management, and draw key support from Bayerische Hypo- und Vereinsbank AG (HypoVereinsbank; A+/Negative/A-1). The ratings also reflect the fact that PBI, as a start-up operation, has no track record and a weak financial profile. These concerns are--to a large extent--mitigated by the close relationship and long-standing experience of its owners in public sector and mortgage lending. These banks will closely control PBI's operations and are expected to support the development of their subsidiary. The rating on the Lettres de Gage Publiques (LdGP) issued by PBI primarily reflects the LdGP's...
Companies mentioned in this report are:
- Hypo Pfandbrief Bank International S.A.
- Hypovereins Finance N.V.
- Westfaelische Hypothekenbank AG
- Hypo Public Finance Bank
- Deutsche Pfandbriefbank AG
- Nuernberger Hypothekenbank AG
- Sueddeutsche Bodencreditbank AG
- UniCredit Bank AG
- Hypo Real Estate Bank International AG
- HVB Capital LLC I
- HVB Funding Trust II
- HVB Funding Trust I
- HVB Funding Trust III
- HVB Capital LLC III
- HVB Capital LLC II
Action: Review
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: Full Analysis
- Hypo Pfandbrief Bank International S.A.
- Hypovereins Finance N.V.
- Westfaelische Hypothekenbank AG
- Hypo Public Finance Bank
- Deutsche Pfandbriefbank AG
- Nuernberger Hypothekenbank AG
- Sueddeutsche Bodencreditbank AG
- UniCredit Bank AG
- Hypo Real Estate Bank International AG
- HVB Capital LLC I
- HVB Funding Trust II
- HVB Funding Trust I
- HVB Funding Trust III
- HVB Capital LLC III
- HVB Capital LLC II
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