Landesbank Baden-Wurttemberg 'A+' CCR affirmed; outlook stable - S&P |
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Published
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Tue, 20 Nov 2007 17:06
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MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services said it has affirmed its 'A+/A-1' long-term and short-term counterparty credit ratings on Germany-based Landesbank Baden-Wurttemberg (LBBW) with a stable outlook.The affirmation reflects 'LBBW's underlying profitability and its capitalization should be sufficiently robust to digest potential mark-to-market losses on credit-risk investments without a significant weakening of the group's financial risk profile,' S&P's credit analyst Bernd Ackermann said.S&P said the ratings on LBBW continue to be based on implicit ownership support from the state of Baden-Wurttemberg, rated 'AA+/A-1+' with a positive outlook, resulting in a two-notch ratings uplift.Ackermann added the stable outlook are flects that a modest deterioration in LBBW's stand-alone creditworthiness would not automatically have negative implications on the ratings on the bank, provided that Baden-Wurttemberg remains fully committed to it.'TFN.newsdesk@thomson.comran/rsh/ranCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Germany's L-Bank's outlook raised to positive; ratings affirmed - S&P 