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Article: MOODY'S DOWNGRADES LANDESBANK SAAR'S RATINGS TO A1 FROM AA2
- Article from:
- Info-Prod Research (Middle East)
- Article date:
- May 14, 2009
CopyrightCopyright 2009 Info-Prod Research (Middle East). Provided by ProQuest LLC. (Hide copyright information)
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Moody's Investors Service today placed onreview for possible
downgrade the D+ bank financial strength rating(BFSR) of Landesbank
Saar (SaarLB), reflecting the rating agency'sconcerns about the
bank's profitability and increased risks inherent inits 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
aconsequence 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 depositratings have not been changed and ...