Summary: NRW.BANK Feb 11
Standard & Poors, February 2011
Abstract
The ratings on Germany-based NRW.BANK are based on an equalization with the ratings on the bank's majority stakeholder, the State of North Rhine-Westphalia (NRW; AA-/Stable/A-1+), reflecting Standard & Poor's Ratings Services' opinion that there is an "almost certain" likelihood that NRW would provide timely and sufficient extraordinary support to NRW.BANK in the event of financial distress. In accordance with our criteria for government-related entities (GREs), our rating approach is based on our view of NRW.BANK's: "Critical" role as the state's development bank and in public policy activities; and "Integral" link with the government because it essentially acts as an arm of the state. Our assessment of the ratings also reflect the continued explicit support the bank receives from NRW, notably,...
Companies mentioned in this report are: NRW.BANK
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.
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.
NRW.BANK
Customers who bought this item also bought
All rights reserved. © Copyright 2013 Research and Markets WWW5
Terms and Conditions Privacy Policy Publishers Employment Opportunities Site Map Link to us Webmaster Affiliate Network
