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Bulletin: Ratings Currently Unchanged On Dexia Entities' Covered Bonds Following Downgrade Of The Bank Oct 11
Standard & Poors, Oct 2011
Abstract
OVERVIEW On Oct. 6, we lowered the rating on Dexia's core banks to A-/Watch Dev/A-2 from A/Negative/A-1. The ratings on the covered bonds issued by Dexia entities currently remain unchanged following these downgrades. We expect a possible restructuring of the Dexia group, and expect to publish an update once we have sufficient visibility of the outcome of the possible restructuring and its impact on the covered bond ratings. LONDON (Standard & Poor's) Oct. 7, 2011--Standard & Poor's Ratings Services said today that its 'AAA/Stable' credit ratings on the covered bonds issued by Dexia Municipal Agency (DMA), Dexia Kommunalbank Deutschland AG (DKD), and Dexia Lettres de Gage Banque S.A. (DLdG) remain unchanged following our Oct. 6, 2011 downgrade of Dexia's core...
Companies mentioned in this report are: Dexia Municipal Agency,Banque Internationale a Luxembourg,Dexia Credit Local,Dexia Kommunalbank Deutschland AG,Dexia LdG Banque S.A.
Action: Bulletin
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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