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Annual report 2011
62
result of new high investment grade origination coupled
with downgrades in the existing portfolio.
Eight new transactions and an increase of EIF guaran-
tee for one transaction were signed in 2011 for a total
amount of EUR 932.7m (two new transactions for a
total amount of EUR 260.0m during 2010). During 2011,
guarantees have been called for a total amount paid of
EUR 3.8m (2010: EUR 6.7m) mainly stemming from three
EUR m
Weighted Average
Rating
Exposure at risk (commit-
ment minus repayment)
% of total
2011
2010
2011
2010
2011
2010
Credit Enhancement
Ba2
Ba2
2 706.9
2 438.4
94.0%
94.5%
Credit Insurance
Baa1
Aa2
169.8
135.5
5.9%
5.3%
SIV
Ba2
Ba2
3.1
6.3
0.1%
0.2%
Defaulted
-
-
0.0
0.0
0.0%
0.0%
Total
2 879.8 2 580.2 100.0% 100.0%
EUR
31.12.2011
31.12.2010
Under review - Negative
19.1%
549 441 576
19.8%
510 511 115
Under review
12.7%
366 202 094
34.4%
888 533 283
Performing
67.9%
1 956 176 819
45.5%
1 173 196 200
Positive outlook
0.3%
8 000 000
0.3%
8 000 000
Total -Exposure at risk
100.0%
2 879 820 489
100.0%
2 580 240 598
Each guarantee transaction is assessed and assigned into
one of four categories as per the table below.
transactions. The additional provisions on the portfolio
(in particular arising from the downgrades) amounted to
EUR 71.9m (2010: EUR 48.1m) (see note 5.2.). The port-
folio’s overall initial weighted average life decreased to
4.6 years at end 2011 (2010: 5.4).