OVERVIEW We have reviewed Helaba's public-sector covered bonds and affirmed our 'AAA' ratings on the program and related series. The outlook is stable. Our ratings are based on our criteria for rating covered bonds. However, certain aspects of the methodologies and assumptions underlying these criteria are under review. As a result of this review, our future methodologies and assumptions applied to rate covered bonds may differ from the current criteria. The ratings on all outstanding covered bonds in this program may be affected as a result of this review. FRANKFURT (Standard&Poor's) June 1, 2012--Standard&Poor's Ratings Services today affirmed its 'AAA' credit ratings on Landesbank Hessen-Thueringen Girozentrale's (Helaba) public-sector covered bond program and related series of covered
