
The outlook is stable.
The ratings have been affirmed in conjunction with amendments to the standby bond purchase agreements provided by Depfa Bank PLC (A+/A-1). The amendments change the automatic termination events from being based on the bond insurance provider, AMBAC, to being based on the issuer's failure to pay and the long-term rating of the resolution.
For complete details, please contact:
Christopher Mortell ,
New York,
(1) 212-438-3446
christopher_mortell@standardandpoors.com
Analyst Contacts:
Moraa Andima,
New York
(1) 212-438-2734
Jeffrey Previdi,
New York
(1) 212-438-1796
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