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S&P affirms Erste Abwicklungsanstalt
S&P said it affirmed its AA-/A-1+ issuer credit ratings on Erste Abwicklungsanstalt.
The outlook is positive.
The agency said the ratings on Erste Abwicklungsanstalt are equalized with those on the German state of North Rhine-Westphalia (AA-/positive/A-1+), the entity's main stakeholder and support provider.
“This reflects our opinion that there is an almost certain likelihood that NRW will provide timely and sufficient extraordinary support to EAA in an event of financial distress,” S&P said in a news release.
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