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Bayerische Landesbank 'A/A-1' Ratings Affirmed On Potential Alpe Adria Acquisition May 07
Standard & Poors, May 2007
Abstract
FRANKFURT (Standard & Poor's) May 22, 2007, 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 are unaffected by the proposed 50% plus-one-share acquisition of Austrian Hypo Alpe-Adria-Bank International AG (HAAB; not rated). 'Standard & Poor's regards the move as positive because the strategic fit of the acquisition will support BayernLB's ongoing efforts to broaden its business and geographic diversification following the loss of state guarantees back in July 2005,' said Standard & Poor's credit analyst Harm Semder. HAAB has a focus on more granular small and midsize enterprises and retail business and its network in fast-growing CEE countries complements...
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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