VP Bank Verwaltungs- und Privat-Bank AG

Research Update: Outlook On Liechtenstein-Based VP Bank Revised To Negative On Substandard Performance;
Affirmed At 'A-/A-2'
to achieve significant net new money generation, leading to higher earnings
retention and a stronger capital and earnings assessment above our 15%
threshold. This might be facilitated by a more diverse and
less-confidence-sensitive business profile resulting from improvements in its
market position.
Ratings Score Snapshot
To From
Issuer Credit Rating A-/Negative/A-2 A-/Stable/A-2
SACP bbb+ bbb+
Anchor a- a-
Business Position Weak (-2) Weak (-2)
Capital and Earnings Strong (+1) Very Strong (+2)
Risk Position Adequate (0) Moderate (-1)
Funding Average (0) Average (0)
Liquidity Adequate (0) Adequate (0)
Support 1 1
GRE Support 0 0
Group Support 0 0
Sovereign Support 1 1
Additional Factors 0 0
Related Criteria And Research
• Criteria | Financial Institutions | Banks: Banks: Rating Methodology And
Assumptions, Nov. 9, 2011
• Criteria | Financial Institutions | Banks: Banking Industry Country Risk
Assessment Methodology And Assumptions, Nov. 9, 2011
• Criteria | Financial Institutions | Banks: Bank Capital Methodology And
Assumptions, Dec. 6, 2010
Ratings List
CreditWatch/Outlook Action; Ratings Affirmed
To From
VP Bank Verwaltungs- und Privat-Bank AG
Counterparty Credit Rating A-/Negative/A-2 A-/Stable/A-2
Ratings Affirmed
VP Bank Verwaltungs- und Privat-Bank AG
Certificate Of Deposit A-/A-2
Senior Unsecured A-
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