Creditreform Rating has set the rating of all valid bank ratings and bank issues to watch negative due to the currently not assessable impact of the Corona Crisis. Not affected by this rating action are government related banks. We refer to the free available Monitoring Report for a more detailed explanation.
The planned measures of capital strengthening are responsible for the decision to set the rating to "watch". Following the EU Commission's decision to allow shareholders to strengthen their capital, it remains to be seen how the regulatory capital ratios will develop after the capital increase. After a possible implementation of the capital increase measures and the publication of the audited annual financial statements for fiscal year 2019, the addition "watch" can be removed again.
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 Deutsche Hypothekenbank AG to BBB-, with stable outlook. Creditreform Rating has also determined the ratings of the debt classes as follows. The rating of Tier 2 was set to B+ and the rating of the Senior Unsecured to BBB-.