- Language: English
- Published: January 2013
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)
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >
Erdoelbevorratungsverband ,Germany (Federal Republic of) (Unsolicited Ratings)