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Article: MOODY'S AFFIRMS SAARLB'S AA2/P-1 RATINGS, DOWNGRADES BFSR TO D+
- Article from:
- Info-Prod Research (Middle East)
- Article date:
- August 5, 2008
CopyrightCopyright 2008 Info-Prod Research (Middle East). Provided by ProQuest LLC. (Hide copyright information)
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Moody's Investors Service has todaydowngraded 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 Aa3rating for
subordinated debt (including Genussscheine) and the A1 ratingfor
silent participations, with their stable outlook. Moody's
alsoaffirmed SaarLB's Prime-1 short-term rating and the Aa1 rating
for thebank's obligations that qualify for grandfathering
of"Gewaehrtraegerhaftung" (a guarantee obligation). According to
Moody's, the one-notch downgrade of SaarLB's BFSR primarilyreflects:
(i) the weak 2007 results, which were impacted by ...