Bulletin: Germany-Based WestLB AG Ratings Unaffected By Weak Second-Quarter Results Aug 07
- ID: 1857530
- August 2007
- Standard & Poors
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)
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.