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Bayerische Hypo- und Vereinsbank AG May 03
Standard & Poors, May 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, such as its plan to place up to 25% of Bank Austria Creditanstalt AG (BA; A-/Negative/A-2) with investors by means of a free-float capital increase--on HVB's business and risk profile to the extent foreseeable from today's perspective. Primary negative rating factors are HVB's weakened...
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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