Bavaria (State of) Mar 09

  • ID: 1885094
  • March 2009
  • Standard & Poors
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  • Bavaria (State of)
  • Bayerische Landesbank
  • MORE

Management's commitment to avoid net new borrowing Ability to weather economically tougher times Donor to the supportive national tax equalization system Wealthy economy with low unemployment rates High unfunded pension obligations High contingent liabilities The ratings on the German State of Bavaria are supported by its management's strong commitment to avoid net new borrowing; the state's ability to achieve sound budgetary performance, even in economically tougher times; its role as a donor to the supportive German tax equalization system; and its wealthy economy with low unemployment rates. The ratings are constrained by Bavaria's high unfunded pension obligations and contingent liabilities. Bavaria's debt burden is relatively high in an international comparison, but low in a German context. State law prohibits net...

Companies mentioned in this report are:
- Bavaria (State of)
- Bayerische Landesbank

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

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- Bavaria (State of)
- Bayerische Landesbank

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