Commerzbank AG Jul 11
Standard & Poors, July 2011
Abstract
High systemic importance to Germany. Extraordinary government support, which has restored the bank's loss-absorption capacity. Good market position in domestic corporate banking. Currently robust economic improvement that should benefit its dominant German operations. Restructuring risks due to the need to reduce dependence on government support. Credit and market risks from sizable wholesale lending and trading-related activities. High reliance on wholesale funding markets. Needed cost base reduction to offset potential revenue losses. The ratings on Germany-based Commerzbank AG reflect Standard & Poor's Ratings Services' view that the bank is of high systemic importance to the Federal Republic of Germany (AAA/Stable/A-1+), which owns 25% plus one share of Commerzbank, and that the bank would likely receive additional extraordinary government support if needed....
Companies mentioned in this report are:
- Commerzbank AG
- BRE Bank S.A. (Unsolicited Ratings)
- Commerzbank Europe (Ireland)
- Dresdner Funding Trust I
- Hypothekenbank Frankfurt International S.A.
- Erste Europaeische Pfandbrief- und Kommunalkreditbank AG
- Dresdner Funding Trust IV
- Dresdner Funding Trust III
- Hypothekenbank Frankfurt AG
- Commerzbank Capital Funding Trust I
- Commerzbank Capital Funding Trust II
- HT1 Funding GmbH
- UT2 Funding PLC
- Commerzbank Capital Funding Trust III
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
- Commerzbank AG
- BRE Bank S.A. (Unsolicited Ratings)
- Commerzbank Europe (Ireland)
- Dresdner Funding Trust I
- Hypothekenbank Frankfurt International S.A.
- Erste Europaeische Pfandbrief- und Kommunalkreditbank AG
- Dresdner Funding Trust IV
- Dresdner Funding Trust III
- Hypothekenbank Frankfurt AG
- Commerzbank Capital Funding Trust I
- Commerzbank Capital Funding Trust II
- HT1 Funding GmbH
- UT2 Funding PLC
- Commerzbank Capital Funding Trust III
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