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HVB Banque Luxembourg Rated 'A-/A-2' With A Negative Outlook, In Line With German Parent HVB Apr 05 Product Image

HVB Banque Luxembourg Rated 'A-/A-2' With A Negative Outlook, In Line With German Parent HVB Apr 05

  • Published: April 2005
  • Standard & Poors

FEATURED COMPANIES

  • UniCredit Bank AG
  • Unicredit Luxembourg S.A.
  • MORE

Abstract
FRANKFURT (Standard & Poor's) April 6, 2005--Standard & Poor's Ratings Services said today it assigned its 'A-' long-term and 'A-2' short-term counterparty credit ratings to HVB Banque Luxembourg S.A. (HVB Luxembourg), a wholly owned subsidiary of Bayerische Hypo- und Vereinsbank AG (HVB; A-/Negative/A-2). The outlook is negative. "The ratings are based on HVB Luxembourg's very close integration within and dependence on its parent company HVB," said Standard & Poor's credit analyst Stefan Best. HVB Luxembourg's main lines of business are: short-term lending to HVB's preferred corporate customers; structured finance, in close cooperation with HVB; private banking, predominantly for HVB's affluent customers; custody business for HVB's asset management company Activest; and treasury, with a focus on money market business. HVB Luxembourg...

Companies mentioned in this report are:
- Unicredit Luxembourg S.A.
- UniCredit Bank AG

Action: New Rating
Action: Outlook: Negative

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns READ MORE >

- Unicredit Luxembourg S.A.
- UniCredit Bank AG

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