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Hypo Real Estate Entities 'BBB/A-2' Ratings On CreditWatch Positive On Likely State Support Apr 09

  • ID: 1856424
  • April 2009
  • Standard & Poors
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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

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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- Deutsche Pfandbriefbank AG

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