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Bayerische Landesbank 'A/A-1' Ratings Affirmed On Substantial Ownership Support;Outlook Stable Apr 08
Standard & Poors, April 2008
Abstract
FRANKFURT (Standard & Poor's) April 3, 2008--Standard & Poor's Ratings Services said today it affirmed its 'A' long-term and 'A-1' short-term counterparty credit ratings on Germany-based Bayerische Landesbank (BayernLB). The outlook is stable. 'The ratings affirmation reflects our expectation that both owners, the Bavarian savings banks (BSBs) and the State of Bavaria (AAA/Stable/A-1+), will provide substantial support to shield BayernLB against -4.8 billion in final losses on a -24 billion portion of its -33 billion structured credit investment portfolio, which had suffered sizable markdowns of -4.3 billion by the end of March 2008,' said Standard & Poor's credit analyst Harm Semder. The -4.8 billion guarantee will cover losses exceeding -1.2 billion that the bank had already charged against its 2007...
Companies mentioned in this report are: Bayerische Landesbank
Action: Affirmed
Action: Outlook: Stable
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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