FRANKFURT (Standard & Poor's) Feb. 17, 2003--Standard & Poor's Ratings Services said today it affirmed its 'AAA' ratings on the Hypotheken (mortgage) Pfandbriefe of Eurohypo AG (Eurohypo-New; A/Stable/A-1) and removed them from CreditWatch. "Standard & Poor's rating action follows its review of Eurohypo-New's mortgage collateral pool and related cash flows that resulted from Eurohypo-New's three predecessor banks, which merged to create Eurohypo-New on Aug. 13, 2002," said Standard & Poor's credit analyst Harm Semder. As a result, the 'AAA' ratings on Eurohypo-New's Hypothekenpfandbriefe reflect the quality of the collateral, the adequacy of cash flows, and maintenance of adequate overcollateralization levels. All these factors are subject to Standard & Poor's regular surveillance. Complete ratings information is available to subscribers of RatingsDirect,...
Companies mentioned in this report are:
- Hypothekenbank Frankfurt AG
Action: Affirmed, Off CreditWatch
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Research type: News
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