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Research Update: Denmark-Based Nykredit Bank A/S Assigned 'A+/A-1' Ratings; Outlook Stable Nov 08 Product Image

Research Update: Denmark-Based Nykredit Bank A/S Assigned 'A+/A-1' Ratings; Outlook Stable Nov 08

  • Published: November 2008
  • Standard & Poors

FEATURED COMPANIES

  • Nykredit Bank A/S
  • Nykredit Realkredit A/S
  • MORE

Abstract
On Nov. 5, 2008, Standard and Poor's Ratings Services assigned its 'A+' long-term and 'A-1' short-term counterparty credit ratings to Denmark-based Nykredit Bank A/S. The outlook is stable. The ratings reflect the bank's status as a core subsidiary of Nykredit Realkredit A/S (A+/Stable/A-1). In addition, they reflect expected parental support, primarily in the form of capital injections, as well as access to a strong brand name and customer base. Accordingly, we have equalized the ratings on Nykredit Bank with those on the parent by incorporating a two-notch uplift to the stand-alone ratings on the bank. The stand-alone ratings reflect the bank's strong asset quality and adequate profitability. The ratings are constrained by the bank's low level of geographic diversity, its...

Companies mentioned in this report are:
- Nykredit Bank A/S
- Nykredit Realkredit A/S

Action: New Rating

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 READ MORE >

- Nykredit Bank A/S
- Nykredit Realkredit A/S

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