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
- Bavaria (State of)
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