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Bayerische Landesbank Aug 09
Standard & Poors, Aug 2009
Abstract
Ongoing ownership support from the state of Bavaria High systemic importance to Bavaria and Germany Business ties as central clearer to the Bavarian savings banks Bleak earnings prospects due to BayernLB's high vulnerability to fallout effects from the severe economic downturn Concerns about the long-term viability of BayernLB's mainly wholesale-oriented business model Uncertainties about the long-term ownership structure, durability and scope of ownership support, and conditions stipulated by the European Commission as compensation for state aid The ratings on Germany-based Bayerische Landesbank (BayernLB) are based on Standard & Poor's Ratings Services' assessment of the bank's high systemic importance to the Federal Republic of Germany (AAA/Stable/A-1+) and on extraordinary financial support from BayernLB's key shareholder, the German State of Bavaria (Bavaria;...
Companies mentioned in this report are: Bayerische Landesbank,Federal Republic of Germany (Unsolicited Ratings),State of Bavaria,Bayerische Landesbank Girozentrale (NY Branch),MKB Bank ZRT (Unsolicited Ratings),MKB Romexterra Bank S.A.,Bayerische Landesbodenkreditanstalt
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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