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Bulletin: Ratings Unchanged In Hypo Real Estate Bank AG's Public Sector Covered Bond Program Jun 08
Standard & Poors, June 2008
Abstract
FRANKFURT (Standard & Poor's) June 3, 2008-Standard & Poor's Ratings Services said today that following its review of the Hypo Real Estate Bank AG (HG) public sector covered bond program, it considers the program's performance to be stable and that no rating action is warranted at this time. This program has been rated since August 1998 and HG uses it to issue covered bonds backed by a pool of public sector assets. The 'AAA' rating assigned to HG's public sector covered bond program reflects our level of comfort in the German covered bond legislation. The legal framework it provides allows us to rate the covered bonds predominantly independently from the counterparty rating on the issuer. The rating assigned also reflects...
Companies mentioned in this report are: Deutsche Pfandbriefbank AG
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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