|
|
Article: GERMANY: MOODY'S DOWNGRADES LANDESBANK SAAR'S RATINGS TO A1 FROM AA2.
- Article from:
- IPR Strategic Business Information Database
- Article date:
- May 14, 2009
CopyrightCOPYRIGHT 2009 Info-Prod (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Moody's Investors Service today placed on review for possible downgrade the D+ bank financial strength rating (BFSR) of Landesbank Saar (SaarLB), reflecting the rating agency's concerns about the bank's profitability and increased risks inherent in its loan portfolio in the context of the deepening recession in Germany. The bank's debt and deposit ratings were downgraded to A1 from Aa2 as a consequence of the rating downgrade of its parent, Bayerische Landesbank (BayernLB; please refer to Moody's PR on the rating action on BayernLB, dated 12 May 2009). The Prime-1 short term rating was affirmed. The support assumptions incorporated into SaarLB's debt and deposit ...