Research Update: WestLB AG Aug 03
Standard & Poors, August 2003
Abstract
On Aug. 1, 2003, Standard & Poor's Ratings Services lowered its long-term counterparty credit and certificate of deposit ratings on WestLB AG and Landesbank Nordrhein-Westfalen (LB NRW) to 'AA' from 'AA+'. The 'A-1+' short-term ratings were affirmed. The outlook is negative. At the same time, the 'AAA' ratings on Öffentliche Pfandbriefe issued by LB NRW were affirmed. The outlook is stable. In a related action, Standard & Poor's Ratings Services also lowered its long-term counterparty credit and certificate of deposit ratings on Westdeutsche Immobilienbank (WIB) and WestLB Covered Bond Bank PLC (WCBB) to 'AA-' from 'AA'. The 'A-1+' short-term ratings were affirmed. The outlook is negative. The 'AAA' ratings on Öffentliche and Hypothekenpfandbriefe issued by WIB were affirmed. The outlook...
Companies mentioned in this report are:
- Portigon AG (Unsolicited Ratings)
- North Rhine-Westphalia (State of)
- WestLB Finance USA Inc.
- NRW.BANK
- Westdeutsche ImmobilienBank
- EAA Covered Bond Bank Public Ltd Co.
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
- Portigon AG (Unsolicited Ratings)
- North Rhine-Westphalia (State of)
- WestLB Finance USA Inc.
- NRW.BANK
- Westdeutsche ImmobilienBank
- EAA Covered Bond Bank Public Ltd Co.
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