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Rtgs on Allianz AG and Units Cut to 'AA+' and Off Watch After Dresdner Acquisition Approved Jul 01
Standard & Poors, July 2001
LONDON (Standard & Poor's CreditWire) July 23, 2001--Following the closure and EU approval of Allianz AG's acquisition of Dresdner Bank AG (AA-/Stable/A-1+), Standard & Poor's today lowered its long-term ratings on Munich-based Allianz and various related entities one notch, predominantly to double-'A'-plus from triple-'A'. The ratings were also removed from CreditWatch, where they had been placed on April 2, 2001, following the announcement that Allianz proposed to bid for Dresdner, to create an integrated financial services group. The outlook is stable. At the same time, Standard & Poor's affirmed its 'A-1'-plus short-term ratings on Allianz and its units. (See list below for all ratings.) Dresdner has a considerably weaker credit profile than the existing Allianz Group. Since it will represent...
Action: Downgraded, Off CreditWatch
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.
- Allianz SE
- Dresdner Bank AG
- Allianz Vie
- Allianz IARD
- Allianz France
- Allianz Life Insurance Co. of North America
- Allianz Life Insurance Co. of New York
- Allianz Global Risks U.S. Insurance Co.
- Allianz Underwriters Insurance Co.
- AGF - Assurances Generales de France CASH (SNC)
- Allianz Versicherungs AG
- Allianz Global Corporate & Specialty (France)
- Bayerische Versicherungsbank AG
- Allianz SpA
- Vereinte Versicherung AG
- Allianz Elementar Versicherungs - AG
- Frankfurter Versicherungs-AG
- Allianz Lebensversicherungs Aktiengesellschaft
- Allianz Private Krankenversicherungs - AG
- Vereinte Lebensversicherung AG
- Allianz Elementar Lebensversicherungs AG
- Allianz Finance B.V.
- Allianz Finance II B.V.