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Bayerische Hypo- und Vereinsbank and Subsidiaries' Ratings Lowered; Outlook Stable Feb 02
Standard & Poors, Feb 2002
Abstract
FRANKFURT (Standard & Poor's) Feb. 21, 2002--Standard & Poor's said today it lowered its long-term counterparty credit and senior unsecured debt ratings on Germany-based Bayerische Hypo- und Vereinsbank AG (HVB) to single-'A' from single-'A'-plus due to Standard & Poor's belief that increasingly difficult industry and economic conditions will prevent HVB from achieving improved profitability levels in 2002, which was a precondition to avoid a downgrade. At the same time, Standard & Poor's lowered its long-term counterparty credit and senior unsecured debt ratings on HVB subsidiaries, Bank Austria AG and HVB Real Estate Bank AG to single-'A' from single-'A'-plus. Standard & Poor's also lowered its long-term counterparty credit and senior unsecured debt ratings on Westf-lische Hypothekenbank AG (WestHyp), W-rttembergische Hypothekenbank AG...
Companies mentioned in this report are: UniCredit Bank AG,UniCredit Bank Austria AG,Westfaelische Hypothekenbank AG,Deutsche Pfandbriefbank AG,Hypo Pfandbrief Bank International S.A.
Action: Downgraded
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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