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Bayerische Landesbank Affirmed At 'BBB+/A-2'; Ratings Then Withdrawn At The Bank's Request Oct 09
Standard & Poors, Oct 2009
Abstract
Bayerische Landesbank (BayernLB) is considered of high systemic importance in Germany, and we assume that BayernLB would receive extraordinary financial support from its owner, the State of Bavaria. We are affirming our 'BBB+/A-2' long- and short-term credit ratings on BayernLB and our issue ratings on BayernLB's debt, including those that benefit from state guarantees (grandfathered debt). We are withdrawing the counterparty credit and issue ratings at the bank's request. The outlook was negative before the withdrawal. As a result of our rating actions on BayernLB, we plan to withdraw all U.S. public finance issue ratings that depend on BayernLB's full credit or liquidity support. FRANKFURT (Standard & Poor's) Oct. 19, 2009--Standard & Poor's Ratings Services said today it affirmed its...
Companies mentioned in this report are: Bayerische Landesbank,State of Bavaria
Action: Affirmed
Action: Withdrawn
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.
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