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Transaction Update: DekaBank Deutsche Girozentrale Public-Sector Covered Bonds

Published Jun 18, 2014

2968 words — Published Jun 18, 2014

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Abstract:

Available credit enhancement that well exceeds the target credit enhancement. "Low" asset-liability mismatch (ALMM) risk. Credit exposure focused on highly rated obligors in Germany. Commingling and bank account risk that is not addressed either structurally or by the German legal framework. Standard&Poor's Ratings Services' outlook on the public-sector covered bonds (Öffentliche Pfandbriefe) of DekaBank Deutsche Girozentrale (DekaBank; A/Stable/A-1) is stable. This reflects our opinion that a downgrade of DekaBank or an increase in our ALMM measure for the bank would not automatically result in a change to the ratings on the covered bonds. The outlook also incorporates our expectation that the covered bond program will maintain credit enhancement at least commensurate with the current rating. The rating benefits

Brief Excerpt:

RESEARCH Transaction Update: DekaBank Deutsche Girozentrale Public-Sector Covered Bonds Oeffentliche Pfandbriefe Program Publication date: 18-Jun-2014 Primary Credit Analyst: Ioan Isopel, Frankfurt (49) 69-33-999-306; ioan.isopel@standardandpoors.com...

Report Type:

Transaction Update Report

Ticker

1030Z@GR

Issuer

DekaBank Deutsche Girozentrale

GICS

Asset Management & Custody Banks (40203010)

Sector

Global Issuers, Structured Finance

Country

Germany

Region

Europe, Middle East, Africa

Format:

PDF

Summary: DekaBank Deutsche Girozentrale – 2014/10/15 – US$ 225.00

DekaBank Deutsche Girozentrale – 2014/10/15 – US$ 500.00

Ratings Affirmed On DekaBank's Public Sector Covered Bonds Following Revised Criteria Application; Outlook Stable – 2015/06/25 – US$ 150.00

German DekaBank Outlook Revised To Positive On Likely Further Integration With German Savings Banks; Affirmed At 'A/A-1' – 2015/08/14 – US$ 150.00

Research Update: German DekaBank Outlook Revised To Positive On Likely Further Integration With German Savings Banks; Affirmed At 'A/A-1' – 2015/08/14 – US$ 225.00

DekaBank Deutsche Girozentrale's German Public-Sector Covered Bonds Affirmed At 'AAA'; Outlook Stable – 2014/06/18 – US$ 150.00

DekaBank Deutsche Girozentrale – 2013/10/25 – US$ 500.00

Summary: DekaBank Deutsche Girozentrale – 2013/10/25 – US$ 225.00

DekaBank Deutsche Girozentrale – 2012/10/15 – US$ 500.00

Summary: DekaBank Deutsche Girozentrale – 2012/10/15 – US$ 225.00

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Transaction Update: DekaBank Deutsche Girozentrale Public-Sector Covered Bonds" Jun 18, 2014. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Transaction-Update-DekaBank-Deutsche-Girozentrale-Public-Sector-Covered-Bonds-1334131>

APA:	S&P Global Ratings’ Credit Research. (). Transaction Update: DekaBank Deutsche Girozentrale Public-Sector Covered Bonds Jun 18, 2014. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Transaction-Update-DekaBank-Deutsche-Girozentrale-Public-Sector-Covered-Bonds-1334131>

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