In our view, Germany-based Landesbank Hessen-Thueringen Girozentrale (Helaba) and the 50 regional savings banks, which together form the Sparkassen-Finanzgruppe Hessen-Thueringen (SFHT), continue to demonstrate resilience against the economic recession. We observe that the recovery in German markets appears more robust than we previously anticipated. We are therefore revising our outlooks on Helaba and the 50 savings banks to stable from negative and affirming our 'A/A-1' ratings. The stable outlook on SFHT reflects our expectation that Helaba's and the savings banks' financial profiles will remain relatively robust. FRANKFURT (Standard&Poor's) Sept. 16, 2010--Standard&Poor's Ratings Services said today it revised its outlook on Germany-based Landesbank Hessen-Thueringen Girozentrale (Helaba) and the 50 savings banks in Hesse and Thuringia, which together
