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Article: GERMANY: MOODY'S AFFIRMS SAARLB'S AA2/P-1 RATINGS, DOWNGRADES BFSR TO D+.
- Article from:
- IPR Strategic Business Information Database
- Article date:
- August 5, 2008
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Moody's Investors Service has today downgraded the bank financial strength rating ("BFSR") of Landesbank Saar ("SaarLB") to D+ from C-. The outlook is stable. At the same time, Moody's affirmed the bank's Aa2 senior debt and deposit ratings, the Aa3 rating for subordinated debt (including Genussscheine) and the A1 rating for silent participations, with their stable outlook. Moody's also affirmed SaarLB's Prime-1 short-term rating and the Aa1 rating for the bank's obligations that qualify for grandfathering of "Gewaehrtraegerhaftung" (a guarantee obligation). According to Moody's, the one-notch downgrade of SaarLB's BFSR primarily reflects: (i) the weak 2007 ...