Research Update: German Wirtschafts- Und Infrastrukturbank Hessen Outlook Revised To Positive; 'AA/A-1+' Ratings Affirmed

On March 3, 2017, we revised our outlook on the German Federal State of Hesse to positive from stable and affirmed the ratings at 'AA/A-1+'. We equalize our ratings on Wirtschafts- Und Infrastrukturbank Hessen (WIBank) with those on Hesse because we see an almost certain likelihood that Hesse would provide extraordinary financial support to WIBank if necessary. We are therefore revising the outlook on WIBank to positive and affirming our 'AA/A-1+' ratings on the entity. The positive outlook on WIBank reflects our view that the bank will maintain its critical role for and integral link with the state, thus benefitting from an almost certain likelihood of extraordinary support. Any rating actions on Hesse would therefore also trigger a similar rating

...On March 3, 2017, we revised our outlook on the German Federal State of Hesse to + positive from stable and affirmed the ratings at '##/A-1+'. We equalize our ratings on Wirtschafts- Und Infrastrukturbank Hessen (WIBank) with + those on Hesse because we see an almost certain likelihood that Hesse would provide extraordinary financial support to WIBank if necessary. We are therefore revising the outlook on WIBank to positive and affirming our + '##/A-1+' ratings on the entity. The positive outlook on WIBank reflects our view that the bank will maintain its + critical role for and integral link with the state, thus benefitting from an almost certain likelihood of extraordinary support. Any rating actions on Hesse would therefore also trigger a similar rating action on WIBank, all else remaining unchanged....

Research Update