Creditreform Rating has affirmed the rating of Commerzbank Finance & Covered Bond SA at BBB+. The outlook is stable. In addition, Creditreform Rating has set the rating of Additional Tier 1 Capital to n.r. and the rating of Tier 2 Capital to n.r. The rating of Preferred Senior Unsecured Debt (after reclassification from Senior Unsecured Debt) was set to n.r. Moreover, the rating of Non-Preferred Senior Unsecured Debt was set to n.r.
Creditreform Rating AG has revised its rating methodology for the rating of "Bank Capital and Unsecured Debt Instruments". Henceforth, only the revised version of the rating methodology ("Version 2.0") will be applied. Moreover, all current ratings of bank capital and unsecured bank instruments will be reviewed as part of our current monitoring and receive therefore the rating supplement "watch". Our revised rating methodology can be found at www.creditreform-rating.de.
Creditreform Rating has set the rating of Commerzbank Finance & Covered Bond SA to BBB+, with stable outlook. Creditreform Rating has also determined the ratings of the debt classes as follows. The rating of Additional Tier 1 was set to BB-, the rating of Tier 2 to BB and the rating of the Senior Unsecured to BBB+.