Ratings Cut On Hypo Real Estate Bank AG (ESTATE Pan-Europe 5) Class A1+, A2, B, And C Notes Jul 08
- ID: 1857712
- July 2008
- Standard & Poors
LONDON (Standard & Poor's) July 24, 2008Standard & Poor's Ratings Services said today that it has lowered its ratings on the class A1+, A2, B, and C notes issued by Hypo Real Estate Bank AG (ESTATE Pan-Europe 5) (see list below). The ratings on the remaining notes in the transaction are unaffected. The notes were issued in December 2007 by Hypo Real Estate Bank and were secured against public credit-covered securities issued by DEPFA ACS (the note collateral). Thus, the rating on the notes was capped at the rating on the note collateral ('AAA'). Hypo has now secured the removal of the note collateral for the class A1+, A2, B, C, and D notes in agreement with all noteholders, which...
Companies mentioned in this report are:
- Deutsche Pfandbriefbank AG
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.