Ratings On NRW.BANK Public-Sector Covered Bonds Affirmed At 'AAA' Following Review; Outlook Stable Apr 13
- Language: English
- Published: April 2013
Standard & Poor's has revised its criteria for rating government-related entities. In accordance with our criteria, we are affirming the 'AA-/A-1+' ratings on NRW.BANK based on our opinion that there is an "almost certain" likelihood of extraordinary state support should the need arise. In addition, the rating benefits from an explicit state guarantee, a state maintenance obligation and statutory guarantee. The stable outlook reflects that on North Rhine-Westphalia because rating actions on the state affect the ratings on NRW.BANK. FRANKFURT (Standard & Poor's) July 14, 2009-- Standard & Poor's Ratings Services said today that it had affirmed its 'AA-/A-1+' long- and short-term issuer credit ratings on state-owned NRW.BANK. The outlook is stable. The rating on Germany-based NRW.BANK is based on...
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