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Bulletin: German WestLB Ratings, Outlook Unchanged After Its Submission Of A Revised Restructuring Plan To European Commission Feb 11
Standard & Poors, Feb 2011
Abstract
FRANKFURT (Standard & Poor's) Feb. 17, 2011--Standard & Poor's Ratings Services said today that its ratings and outlook on Germany-based WestLB AG (unsolicited BBB+/Negative/A-2) are unaffected by the bank's submission of a revised restructuring plan on February 15 in response to the European Commission's extended state aid investigation. We understand that, according to the plan, WestLB offers to further reduce total assets and risk-weighted assets by one-third by 2015. The bank also proposes to separate four legally dependent but organizationally autonomous operating units to facilitate mergers or sales of parts of WestLB. With the proposed new structure, we consider the most likely scenario to be one in which WestLB focuses on central bank functions for the savings banks sector and...
Companies mentioned in this report are: WestLB AG (Unsolicited Ratings)
Action: Bulletin
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.
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