Creditreform Rating AG has revised its rating methodology for the rating of banks (Bank Ratings). 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 affirmed the rating of Kreditanstalt für Wiederaufbau (KfW) at AAA. The outlook is stable. In addition, Creditreform Rating has affirmed the rating of Preferred Senior Unsecured Debt (after reclassification from Senior Unsecured Debt) at AAA.
Creditreform Rating has set the rating of KfW to AAA, with stable outlook. Creditreform Rating has also determined the ratings of the Senior Unsecured to AAA.