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Bayerische Hypo- und Vereinsbank AG Jan 03
Standard & Poors, Jan 2003
Abstract
The ratings on Bayerische Hypo- und Vereinsbank AG (HVB) are based on the bank's franchise among private and corporate customers in its core markets of Germany, Austria, and Central and Eastern Europe (CEE), which provides it with a sound and diversified funding base; and its prudent asset liability management. The ratings also reflect Standard & Poor's assessment of the bank's operational and strategic initiatives--including the implications of the planned spin-off of its mortgage banks and concomitant steps--on HVB's business and risk profile to the extent foreseeable from today's perspective. The ratings on HVB's -ffentliche Pfandbriefe primarily reflect the Pfandbriefe collateral, coupled with protections afforded by German insolvency and banking laws. HVB maintains a segregated, revolving pool of high-quality public-sector loans,...
Companies mentioned in this report are: UniCredit Bank AG,UniCredit Bank Austria AG,Hypovereins Finance N.V.,Westfaelische Hypothekenbank AG,Hypo Public Finance Bank,Deutsche Pfandbriefbank AG,Hypo Pfandbrief Bank International S.A.
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
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