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Eurohypo AG and Europaeische Hypothekenbank S.A. 'A/A-1' Ratings Affirmed; Outlook Negative Mar 04 Product Image

Eurohypo AG and Europaeische Hypothekenbank S.A. 'A/A-1' Ratings Affirmed; Outlook Negative Mar 04

  • ID: 1873469
  • March 2004
  • Standard & Poors

Abstract
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.

Action: Affirmed

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.

- Hypothekenbank Frankfurt AG
- Hypothekenbank Frankfurt International S.A.

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