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Bulletin: Germany-Based WestLB AG Ratings Unaffected By Weak Second-Quarter Results Aug 07
Standard & Poors, August 2007
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: WestLB AG (Unsolicited Ratings)
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Research type: News
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WestLB AG (Unsolicited Ratings)