Summary: Erdoelbevorratungsverband Dec 11
- ID: 2035125
- December 2011
- Standard & Poors
The ratings on Erd-lbevorratungsverband (EBV) reflect its strategic importance to the Federal Republic of Germany (AAA/Watch Neg/A-1+) and its legal status as a quasi-state entity, both of which ensure strong state support. EBV's most important form of support is a very favorable financial regime enshrined in legal provisions. EBV is Germany's vehicle to ensure compliance with its obligations under international law with respect to the strategic stockholding of oil products. Continuous tensions in the Middle East or production disruptions as in Libya in 2011 have underlined the importance of maintaining a strategic reserve of oil and oil derivatives within the borders of a country as import-dependent as Germany. By law, EBV cannot be subject to bankruptcy proceedings and, in the...
Companies mentioned in this report are: Erdoelbevorratungsverband ,Germany (Federal Republic of) (Unsolicited Ratings)
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