Research Update: Denmark-Based Nykredit Bank A/S Assigned 'A+/A-1' Ratings; Outlook Stable Nov 08
Standard & Poors, November 2008
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 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.
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.
Nykredit Bank A/S,Nykredit Realkredit A/S
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