Research Update: Germany-Based Saechsische Aufbaubank 'AAA/A-1+' Ratings Affirmed And Off Watch; Outlook Stable Jan 12
- ID: 2042373
- January 2012
- Standard & Poors
On Jan. 19, 2012, we affirmed our 'AAA' ratings on the German State of Saxony, which owns Saechsische Aufbaubank (SAB) and guarantees all of SAB's obligations. We are affirming our 'AAA' long-term rating on SAB and removing it from CreditWatch negative. We are also affirming the 'A-1+' short-term rating. We believe there is an "almost certain" likelihood of extraordinary government support for SAB in the event of distress. The stable outlook on SAB reflects that on the State of Saxony. On Jan. 20, 2012, Standard & Poor's Ratings Services affirmed its 'AAA' long-term counterparty credit rating on Germany-based Saechsische Aufbaubank (SAB) and removed it from CreditWatch, where it was placed with negative implications on Dec. 14, 2011. The 'A-1+' short-term...
Companies mentioned in this report are: Saechsische Aufbaubank
Action: Outlook: Negative
Action: Outlook: Stable
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Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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