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BayernLB Outlook To Negative On Delayed Implementation Of Ownership Support; 'A/A-1' Affirmed Aug 08
Standard & Poors, Aug 2008
Abstract
FRANKFURT (Standard & Poor's) Aug. 1, 2008--Standard & Poor's Ratings Services said today it revised its outlook on Germany-based Bayerische Landesbank (BayernLB) to negative from stable in conjunction with a sector review of the four Landesbanks with the highest exposure to structured credit investments. At the same time, the 'A' long-term and 'A-1' short-term counterparty credit ratings on the bank were affirmed. 'Although we maintain our view that the owners will provide the necessary support to stabilize BayernLB's deteriorating risk and financial profile, the outlook revision reflects delays and uncertainties regarding the scope of its implementation because lasting support measures would likely be considered state aid,' said Standard & Poor's credit analyst Harm Semder. Unless these measures pass a market-investor...
Companies mentioned in this report are: Bayerische Landesbank
Action: Affirmed
Action: Outlook: Negative
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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