FRANKFURT (Standard & Poor's) March 9, 2004--Standard & Poor's Ratings Services said today it affirmed its 'A' long-term and 'A-1' short-term counterparty credit ratings on Eurohypo AG (Eurohypo), and its core subsidiary Europaeische Hypothekenbank S.A. (Eurohypo Luxembourg). The outlook is negative. At the same time, Standard & Poor's affirmed its 'AAA' senior secured debt ratings on Eurohypo's public sector (Öffentliche) and mortgage (Hypotheken) Pfandbriefe, and affirmed its 'AAA' ratings on Eurohypo Luxembourg's Lettres de Gage Publiques (LdGP). "The affirmation follows Eurohypo's announcement on March 9, 2004, that it is to use most of its 2003 earnings to allocate €288.5 million to the fund for general banking risk," said Standard & Poor's credit analyst Harm Semder. In addition, the parent banks...
Companies mentioned in this report are:
- Hypothekenbank Frankfurt AG
- Hypothekenbank Frankfurt International S.A.
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