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Bayerische Hypo- und Vereinsbank AG Outlook Revised To Negative; 'A/A-1' Ratings Affirmed Oct 02
Standard & Poors, Oct 2002
Abstract
FRANKFURT (Standard & Poor's) Oct. 8, 2002--Standard & Poor's Ratings Services said today it revised its outlook on Germany-based Bayerische Hypo- und Vereinsbank AG (HVB) and related entities to negative from stable. At the same time, the long-term single-'A' and 'A-1' short-term counterparty credit and single-'A' senior unsecured debt ratings on HVB, Bank Austria Creditansalt AG and HVB Real Estate Bank AG were affirmed. In addition, the single-'A-/A-2' counterparty credit ratings on Pfandbriefbank International S.A., Westfaelische Hypothekenbank AG and Wuerttembergische Hypothekenbank AG were affirmed. 'The change in outlook reflects HVB's further weakened business and risk profile as well as growing concerns about the effect of a prolonged economic downturn on the bank's asset quality and its ability to restore weak...
Companies mentioned in this report are: UniCredit Bank AG,Westfaelische Hypothekenbank AG,Hypo Pfandbrief Bank International S.A.
Action: Outlook Revised
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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