Standard&Poor's Ratings Services has affirmed its 'AAA' credit rating on all Öffentliche Pfandbriefe issued under the current debt issuance programs of Landesbank Hessen-Thueringen Girozentrale (HELABA) or any standalone documentation. The covered bonds have been rated since January 2004. This transaction update follows the regular review of the HELABA public sector covered bond program; the review is part of our covered bond rating process. Public lending and the Öffentliche Pfandbriefe business are closely integrated into the overall funding profile of HELABA. HELABA traditionally has had a strong focus on public sector lending and grandfathered guaranteed savings bank lending in Hesse and Thuringia. As the guaranteed savings bank lending is repaid, HELABA will focus on the public sector lending in
