Wirtschafts- und Infrastrukturbank Hessen (WIBank) implements the housing, infrastructure, and economic development policies on behalf of the German State of Hesse. We equalize our ratings on WIBank with those on Hesse because we see an almost certain likelihood that Hesse would support WIBank if necessary. We are therefore affirming our 'AA/A-1+' ratings on WIBank. The stable outlook on WIBank reflects that on Hesse, indicating that any rating action on Hesse will trigger a similar rating action on WIBank, all other factors remaining unchanged. On Oct. 21, 2016, S&P Global Ratings affirmed its 'AA' long-term and 'A-1+' short-term issuer credit ratings on German state development bank Wirtschafts- und Infrastrukturbank Hessen (WIBank). The outlook is stable. We equalize our ratings on WIBank
