Pakistani Defense Sector - Market Opportunities and Entry Strategies, Analyses and Forecasts to 2015
- Published: July 2010
This transaction update follows a review of the Deutsche Genossenschafts-Hypothekenbank AG's (DG Hyp) mortgage covered bond program. We have affirmed our 'AAA' credit ratings on these mortgage covered bonds. The outlook remains stable. DG Hyp typically draws its mortgage covered bonds under its debt issuance program, which also allows it to issue public sector covered bonds. This review covers only the mortgage covered bonds, which we have rated since October 1999. For our rating affirmation on DG Hyp's mortgage covered bonds we have reviewed the asset and cash flows information provided as of June 30, 2010 (the latest reporting date). Applying our covered bond criteria, the specifics of DG Hyp's program potentially allow for a seven notch elevation, according to...
Companies mentioned in this report are: Deutsche Genossenschafts-Hypothekenbank AG
Action: No Rating Change
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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Deutsche Genossenschafts-Hypothekenbank AG
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