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Are German Landesbanks Ready to Compromise? Nov 00
Standard & Poors, Nov 2000
Abstract
LONDON (Standard & Poor's CreditWire) Nov. 16, 2000--Standard & Poor's believes that the recent discussions about the reorganization of Westdeutsche Landesbank (WestLB) are further signs of upcoming changes to the current system of state guarantees upon which the ratings on the German Landesbanken are based. While the timing and degree of such changes continues to remain uncertain, obligations incurred until the state guarantees are removed or altered materially, and until the then necessary changes in the respective laws become effective, will continue to benefit from state guarantees until maturity. If state guarantees are abolished, the scope and nature of such guarantees for existing obligations--which could effectively become grandfathered obligations--would have to be clarified with regard to timeliness in order to...
Companies mentioned in this report are: WestLB AG (Unsolicited Ratings),Germany (Federal Republic of) (Unsolicited Ratings),North Rhine-Westphalia (State of)
Action: Subscribers only
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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