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Bayerische Landesbank Aug 08
Standard & Poors, Aug 2008
Abstract
Public commitment by the Bavarian Savings Banks (BSBs) and Bavaria to provide a second loss guarantee for some of BayernLB's structured credit investments Aggregate financial strength and cohesiveness of the BSBs and Bayerische Landesbank (BayernLB), underpinned by a limited regional protection scheme The BSBs' impressive regional retail franchise, which provides solid earnings, sound asset quality, and strong customer deposits funding Some diversification benefits of BayernLB's subsidiaries BayernLB's high vulnerability from oversized and complex structured credit investments in stressed marketsBayernLB's overleveraged financial profile The BSBs' slow strategic responses to an ongoing changing market environment Operating inefficiencies in the BSBs and BayernLB, coupled with their failure to jointly exploit market opportunities The counterparty credit ratings on Germany-based Bayerische Landesbank (BayernLB) reflect the...
Companies mentioned in this report are: Bayerische Landesbank,State of Bavaria,MKB Bank ZRT (Unsolicited Ratings),MKB Romexterra Bank S.A.,Bayerische Landesbodenkreditanstalt
Action: Review
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: Full Analysis
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