FRANKFURT (Standard & Poor's) April 1, 2009--Standard & Poor's Ratings Services said today it placed its 'BBB/A-2' long-term and short-term counterparty credit ratings on the six rated entities of Hypo Real Estate (HRE) group on CreditWatch with positive implications following the announcement of further stabilization measures by the German government. The entities are Germany-based commercial real estate lender Hypo Real Estate Bank AG, public-finance lenders Depfa Deutsche Pfandbriefbank AG, Ireland-based DEPFA BANK PLC (Depfa), Depfa ACS, and Hypo Public Finance Bank, and Luxembourg-based Hypo Pfandbriefbank Bank International S.A. At the same time, we lowered the ratings on Tier 1 instruments issued by Depfa Funding II LP, Depfa Funding III LP, and Hypo Real Estate International Trust I to 'C' from...
Companies mentioned in this report are:
- Deutsche Pfandbriefbank AG
Action: On CreditWatch:Positive
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Research type: News
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