Research Update: Germany's Dresdner Bank 'A/A-1' Ratings Affirmed On Allianz Outlook Revision; Outlook Negative Aug 05
- ID: 1885647
- August 2005
- Region: Germany
- Standard & Poors
On Aug. 2, 2005, Standard & Poor's Ratings Services affirmed its 'A/A-1' long-term and short-term counterparty credit ratings on Germany-based Dresdner Bank AG (Dresdner). The outlook is negative. The ratings affirmation on Dresdner follows the outlook revision to stable from negative and ratings affirmation on its parent, Allianz AG (AZAG; see related article entitled "Allianz And Insurance Subs Outlook Revised To Stable On Sound Fundamentals; Ratings Affirmed," published on Aug. 2, 2005, on RatingsDirect, Standard & Poor's Web-based credit analysis system). The rating affirmation on Dresdner reflects the progress made in the bank's restructuring; the expectation that the bank is on track to earn its cost of capital of about €700 million in 2005; and the gradual progress of intensified...
Companies mentioned in this report are:
- Dresdner Bank AG
- Allianz SE
- Dresdner Finance B.V.
Action: Outlook: Negative
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Product Type: Research Update
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