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Bayerische Landesbank Apr 03
Standard & Poors, April 2003
Abstract
The ratings on Bayerische Landesbank (BayernLB) are based on the maintenance obligation (Anstaltslast) and statutory guarantee (Gew-hrtr-gerhaftung) of the State of Bavaria (Bavaria; AAA/Stable/A-1+), the bank's prominent market position in the state, and its importance for the state's economy. The ratings on Bavaria reflect the state's strong economy and financial position compared with other regions worldwide, as well as with other German states. (For a full analysis on the State of Bavaria, see separate publication on RatingsDirect, Standard & Poor's Web-based credit analysis system.) On July 17, 2001, the European Commission (EC) announced that the existing state guarantees for German Landesbanks will be phased out by 2015. Anstaltslast and Gew-hrtr-gerhaftung can be maintained in their present form until July 18,...
Companies mentioned in this report are: Bayerische Landesbank,State of Bavaria,Bayerische Landesbank U.S. Finance Inc.
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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