0 CHECKOUT

NRW.BANK Jan 07

  • ID: 1858199
  • January 2007
  • Standard & Poors

FEATURED COMPANIES

  • NRW.BANK
  • Portigon AG
  • State of Brandenburg
  • MORE

Abstract
Strong support mechanism from the State of North Rhine-Westphalia and public policy role Additional explicit guarantee for NRW.BANK's liabilities Strong liquidity and state-supported low funding costs Sound risk profile and management Sound capitalization Business model dependent on public policy role and state support Only modest profitability The counterparty credit ratings on Germany-based NRW.BANK mirror the ratings on the State of North Rhine-Westphalia (NRW; AA-/Stable/A-1+), reflecting that NRW.BANK continues to benefit from explicit state support, notably the ongoing maintenance obligation (Anstaltslast) and statutory guarantee (Gewährträgerhaftung). (For more information on the State of North Rhine-Westphalia, see full analysis on RatingsDirect.) In addition, since 2005 NRW.BANK's liabilities have benefited from an explicit guarantee by the state, which underpins the bank's distinct public policy...

Companies mentioned in this report are:
- NRW.BANK
- Portigon AG
- North Rhine-Westphalia (State of)
- State of Brandenburg

Action: Review

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: Full Analysis

Note: Product cover images may vary from those shown

- NRW.BANK
- Portigon AG
- North Rhine-Westphalia (State of)
- State of Brandenburg

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

PLEASE SELECT A FORMAT

  • Quick Help: This Credit Rating Report will be emailed to you.

HAVE A QUESTION?

If you have a more general question about our products please try our

FAQ SECTION

RELATED PRODUCTS

Our Clients

  • Fluidigm Corporation
  • Apple, Inc.
  • CEVA Santé Animale
  • Abbott Laboratories Ltd.
  • Merck Group
  • Allergan Inc.
  • Pfizer, Inc.