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Westdeutsche ImmobilienBank Dec 10 Product Image

Westdeutsche ImmobilienBank Dec 10

  • Published: December 2010
  • Standard & Poors

FEATURED COMPANIES

  • Erste Abwicklungsanstalt
  • NRW.BANK
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Abstract
Current support from 100%-owner WestLB and indirectly from WestLB´s owners. Comparatively resilient asset quality during the recent economic downturn. Considerable uncertainties about the bank's future ownership structure. A concentrated business model. Dependence on wholesale market funding in general and on WestLB particularly with regard to unsecured funding. Moderate capital strength. The counterparty credit rating on Germany-based Westdeutsche Immobilienbank AG (WIB) is based on the support it receives from its current 100%-owner WestLB AG (BBB+/Negative/A-2), and indirectly from WestLB's key shareholders, the German state of North Rhine-Westphalia (NRW; AA-/Stable/A-1+) and the savings banks associations in the state. WestLB currently provides a significant proportion of unsecured funding to WIB and due to a profit-and loss transfer agreement is obliged to offset any...

Companies mentioned in this report are:
- Westdeutsche ImmobilienBank
- Portigon AG (Unsolicited Ratings)
- North Rhine-Westphalia (State of)
- NRW.BANK
- EAA Covered Bond Bank Public Ltd Co.
- Erste Abwicklungsanstalt

Action: Review

Standard and Poors RatingsXpress READ MORE >

- Westdeutsche ImmobilienBank
- Portigon AG (Unsolicited Ratings)
- North Rhine-Westphalia (State of)
- NRW.BANK
- EAA Covered Bond Bank Public Ltd Co.
- Erste Abwicklungsanstalt

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