Research Update: Germany-Based WestLB AG Unsolicited Long-Term Rating Lowered On Bank Criteria Change; Outlook Stable Dec 11
- Language: English
- Published: December 2011
FRANKFURT (Standard & Poor's) Aug. 30, 2007--Standard & Poor's Ratings Services said today that its ratings on WestLB AG (A-/Stable/A-2) are unaffected by today's announcement of a €170 million net loss in the first half of 2007 as a result of losses from relative-value trading amounting to €604 million. The ratings on WestLB continue to be based on the expectation of ongoing ownership support from, and closer cooperation with, its owner savings banks, which currently raise the stand-alone ratings on WestLB by four notches. However, we will closely monitor the implications of the recent market developments on WestLB's earnings, capital, and liquidity position. In light of the slowdown in general market activity and widening spreads, we consider it highly uncertain...
Companies mentioned in this report are:
- Portigon AG (Unsolicited Ratings)
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Research type: News
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