Credit Linked Notes

News

• 27.03.2019
  Today, Creditrefrom Rating has withdrawn the rating of the bearer bonds with the ISIN DE000A1ZFBA0, issued by Herrenhausen Investment S.A., acting for and on behalf of its compartment 1. The reason for this rating action is the full redemption of the bonds, subsequently to the execution of the call option of the garantee agreement between Deutsche Hypo Actien-Gesellschaft and the issuer.
• 13.06.2018
  Creditreform Rating has confirmed the rating of the credit linked bearer-bonds with ISIN DE000A1ZFBA0, issued by Herrenhausen Investment S.A., acting for and on behalf of its compartment 1 with BBB-sf and outlook positive. Primary reason for the rating is the development of CMBS loan portfolio, which has performed in line with our expectations in the last twelve month. Besides we note a positive progress on the loan for which a credit event has been reported. The issue serves the risk transfer of a static commercial real-estate portfolio, originated and managed by Deutsche Hypothekenbank (Actien-Gesellschaft). The issue represents the development of the credit risks of a subordinated tranche through a guarantee agreement. Therefore, the issue is exposed to the counterparty risk of Deutsche Hypothekenbank in addition to the credit risks.
• 09.06.2017
  Creditreform Rating has set the rating of the Credit Linked bearer-bonds with ISIN DE000A1ZFBA0 issued by Herrenhausen Investment S.A., acting on behalf of its Compartment 1 to BBB-sf. Primary reason for the downgrade is a deteriorated credit quality on a finance contract of the reference portfolio. The issue serves the risk transfer of a static commercial real-estate portfolio, originated and managed by Deutsche Hypothekenbank (Actien-Gesellschaft). The issue represents the development of the credit risks of a subordinated tranche through a guarantee agreement. Therefore, the issue is exposed to the counterparty risk of Deutsche Hypothekenbank in addition to the credit risks.