State guarantee until July 18, 2005; Comprehensive system of solidarity and protective scheme with owner savings banks; and Conservative underwriting standards and comfortable collateral positions. State guarantees will be abolished on July 19, 2005; Low profitability and poor internal capital generation; Limited revenue diversification; and Reliance on wholesale funding. The ratings on Landesbank Hessen-Thüringen Girozentrale (Helaba) are based on: the support it receives from the State of Hesse (Hesse; AA+/Stable/A-1+) via the maintenance obligation (Anstaltslast) and statutory guarantee (Gewährträgerhaftung) (for full information on the credit quality of the state, see the full analysis on RatingsDirect); the bank's prominent market position in the state; and its importance for the state's economy. The guarantees by its owners will be maintained until July
