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Bayerische Landesbank Senior Secured Mortgage (Hypotheken) Pfandbriefe Assigned 'AAA' Ratings Jun 06
Standard & Poors, June 2006
Abstract
FRANKFURT (Standard & Poor's) June 6, 2006--Standard & Poor's Ratings Services said today it assigned its 'AAA' ratings to the senior secured mortgage (Hypotheken) Pfandbriefe issued by Germany-based Bayerische Landesbank (BayernLB; A/Stable/A-1). The ratings on the mortgage covered bonds reflect the sound levels of overcollateralization (OC) available to mitigate Pfandbrief-inherent risks and Standard & Poor's view that BayernLB's commitment to provide a consistent buffer against risks (credit, market, foreign exchange, and liquidity) by at all times maintaining OC levels commensurate with the current ratings will provide investors with comfort toward the mitigation of credit, liquidity, and market-value risks in the future. GENERAL COVER POOL CHARACTERISTICS BayernLB's mortgage cover pool of currently -7.4 billion is available to service about -5.2 billion...
Companies mentioned in this report are: Bayerische Landesbank
Action: New Rating
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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