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Bayerische Landesbank Girozentrale Apr 02
Standard & Poors, April 2002
Abstract
The ratings on Bayerische Landesbank Girozentrale (BayernLB) are based on the maintenance obligation (Anstaltslast) and statutory guarantee (Gew-hrtr-gerhaftung) of the State of Bavaria (AAA/Stable/A-1+). Therefore, the rating draws key support from the State of Bavaria as the only direct state owner, and the bank's importance for the state's economy. The ratings on the State of Bavaria reflect the state's strong economy and financial position compared with other regions worldwide, as well as with other German states. (For a full analysis on the State of Bavaria, see separate publication on RatingsDirect, Standard & Poor's Web-based credit analysis system.) Standard & Poor's assigned stable outlooks to all of BayernLB's obligations maturing by July 18, 2005, as these will benefit from Anstaltslast and...
Companies mentioned in this report are: Bayerische Landesbank,Bayerische Landesbank U.S. Finance Inc.
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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