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Bulletin: Ratings On German Development Bank Bayerische Landesbodenkreditanstalt Unchanged By BayernLB Rating Withdrawal Oct 09
Standard & Poors, Oct 2009
Abstract
FRANKFURT (Standard & Poor's) Oct. 19, 2009--Standard & Poor's Ratings Services said today its 'AAA' long-term and 'A-1+' short-term counterparty credit ratings on the German public-policy-based institution Bayerische Landesbodenkreditanstalt (BayernLabo) remain unchanged following the withdrawal of the ratings on Bayerische Landesbank (BayernLB). The outlook is stable. The ratings on BayernLabo continue to be equalized with the ratings on the State of Bavaria (AAA/Stable/A-1+), reflecting our view on Bavaria's explicit guarantees for BayernLabo's obligations. In accordance with our criteria for rating government-related entities, we are of the opinion that there is an 'almost certain' likelihood that the state would provide timely and sufficient extraordinary support to BayernLabo in the event of financial distress. Our rating approach is based on our view...
Companies mentioned in this report are: Bayerische Landesbodenkreditanstalt,Bayerische Landesbank,State of Bavaria
Action: Bulletin
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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