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Research Update: Kreissparkasse Miesbach-Tegernsee Outlook To Negative On BayernLB Revision; 'A/A-1' Affirmed Aug 08
Standard & Poors, August 2008
On Aug. 1, 2008, Standard & Poor's Ratings Services revised its outlook on Germany-based savings bank Kreissparkasse Miesbach-Tegernsee (KSK-MBT) to negative from stable. At the same time, the 'A/A-1' long-term and short-term counterparty credit ratings were affirmed. The outlook change solely mirrors today's outlook revision on Bayerische Landesbank (BayernLB; A/Negative/A-1). The ratings on BayernLB reflect the overall sound, albeit weakened, aggregate financial strength and risk profile of the bank and the Bavarian Savings Banks (BSBs) as a single economic group (for more details see "BayernLB Outlook To Negative On Delayed Implementation Of Ownership Support; 'A/A-1' Affirmed,? published today on RatingsDirect). The ratings on KSK-MBT are based on our expectation of the support it would receive from the BSBs based on...
Companies mentioned in this report are: Kreissparkasse Miesbach-Tegernsee,Bayerische Landesbank
Action: Outlook: Negative
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Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
Kreissparkasse Miesbach-Tegernsee,Bayerische Landesbank