LONDON (Standard&Poor's CreditWire) Oct. 27, 1999--Standard&Poor's today lowered its ratings on Bayerische Hypo- und Vereinsbank AG (HypoVereinsbank) and its five mortgage bank subsidiaries. At the same time, Standard&Poor's revised the outlook on HypoVereinsbank and its five mortgage bank subsidiaries to stable from negative. The ratings on the banks' Oeffentliche Pfandbriefe were affirmed, and the rating on Hypovereinsbank Ireland was lowered to 'A-1' from 'A-1'-plus. (See list below for all ratings.) The rating actions follow HypoVereinsbank's announcement of further significant loan loss provisions (euro {Eur} 0.6 billion-Eur1.0 billion) for a Eur12.5 billion portfolio of troubled real estate loans. The actions also reflect Standard&Poor's view that earlier expectations as to the time frame for
