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Deutsche Genossenschafts-Hypothekenbank AG Dec 10
Standard & Poors, Dec 2010
Abstract
Fully owned subsidiary of DZ BANK. Member of the German cooperative banking sector. New commercial real estate strategy to German markets and clients more in line with DZ BANK and the sector Weaker business integration with the cooperative banks than core members. Break-even profitability only to be reached in the medium term. Weak capitalization. The ratings on German cooperative bank Deutsche Genossenschafts-Hypothekenbank AG (DG HYP) are based on DG HYP's 100% ownership by DZ BANK AG Deutsche Zentral-Genossenschaftsbank (DZ BANK; A+/Stable/A-1) and ongoing support from DZ BANK through a profit-and-loss agreement. The ratings also reflect DG HYP's membership of the cooperative banking sector's protection scheme. In line with Standard & Poor's Ratings Services' group methodology, we maintain DG HYP's ratings...
Companies mentioned in this report are: Deutsche Genossenschafts-Hypothekenbank AG
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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