Savings Bank Kreissparkasse Miesbach-Tegernsee Assigned 'AA-' Ratings; Future Unguaranteed 'A' Feb 05
- ID: 1885320
- February 2005
- Standard & Poors
FRANKFURT (Standard & Poor's) Feb. 18, 2005--Standard & Poor's Ratings Services said today it assigned its 'AA-/A-1+' counterparty credit ratings to Germany-based savings bank Kreissparkasse Miesbach-Tegernsee (KSK-MBT). The outlook is negative. At the same time, Standard & Poor's assigned its 'A' rating on KSK-MBT's unguaranteed obligations. KSK-MBT, a member savings bank in the region of Bavaria, is the first savings bank in Germany to be publicly rated by Standard & Poor's. The counterparty credit rating and outlook will only apply for the short interim period in which explicit guarantees by the County of Miesbach (Miesbach; AA-/Stable/A-1+; newly rated only as guarantor of KSK-MBT) remain in place. State guarantees for German Landesbanks and savings banks will be abolished on July 18,...
Companies mentioned in this report are:
- Kreissparkasse Miesbach-Tegernsee
- Bayerische Landesbank
- County of Miesbach
- Kreissparkasse Miesbach-Tegernsee UNGUARANTEED
Action: New Rating
Action: Outlook: Negative
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