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Ratings Lowered On Westdeutsche ImmobilienBank's Mortgage And Public-Sector Covered Bonds; Outlook Negative Dec 11

  • ID: 2034490
  • December 2011
  • Standard & Poors
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OVERVIEW On Dec. 8, 2011, we lowered our long-term counterparty rating on Westdeutsche ImmobilienBank to 'BBB-' from 'BBB+' and the outlook remains negative. We have subsequently lowered to 'AA' from 'AAA' our ratings on Westdeutsche ImmobilienBank's mortgage and public-sector covered bonds. Westdeutsche ImmobilienBank's mortgage and public-sector covered bond ratings benefit from the maximum elevation possible above our long-term rating on the issuer under our rating approach. Additionally, we have assigned a negative outlook to Westdeutsche ImmobilienBank's mortgage and public sector covered bonds. Our ratings are based on our criteria for rating covered bonds. However, certain aspects of the methodologies and assumptions underlying these criteria are under review. As a result of this review, our future methodologies and assumptions applied to...

Companies mentioned in this report are:
- Westdeutsche ImmobilienBank

Action: Downgraded

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Research type: News
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- Westdeutsche ImmobilienBank

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