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NRW.BANK 'AA-/A-1+' Ratings Affirmed On State Support; Outlook Stable Jul 09

  • ID: 2045754
  • July 2009
  • Standard & Poors

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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Action: Affirmed

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.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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