Landwirtschaftliche Rentenbank Nov 10
Standard & Poors, November 2010
Abstract
An "almost certain" likelihood of extraordinary support from the German government in times of financial stress. Critical role in the pursuit of government policies and an integral link with the government. Low-risk operational strategy, a stable financial profile, and strong capitalization. Near impossibility of raising additional shareholder capital due to ownership structure. The issuer credit ratings on Landwirtschaftliche Rentenbank (Rentenbank) are primarily based on the expected extraordinary support of the government of the Federal Republic of Germany (AAA/Stable/A-1+) under the legal concept of "Anstaltslast". Anstaltslast means that the government is obliged to safeguard Rentenbank's economic foundation for the duration of its existence, providing support when necessary. Although the government is not its legal owner, Standard & Poor's Ratings Services believes...
Companies mentioned in this report are:
- Landwirtschaftliche Rentenbank
- Germany (Federal Republic of) (Unsolicited Ratings)
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
- Landwirtschaftliche Rentenbank
- Germany (Federal Republic of) (Unsolicited Ratings)
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