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
- Bavaria (State of)
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