Landesbank Baden-Wurttemberg 'A+' ratings affirmed; outlook stable - S&P |
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Published
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Tue, 20 Nov 2007 17:24
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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 and stable outlook on Germany-based Landesbank Baden-Wurttemberg (LBBW).The affirmation reflects LBBW's underlying profitability, the rating agency said, adding that 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 said the ratings on LBBW continue to be based on implicit ownership support from the state of Baden-Wurttemberg, resulting in a two-notch ratings uplift.It 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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Landesbank Baden-Wurttemberg 'A+' CCR affirmed; outlook stable - S&P 