European rating agency. Objective, transparent, independent.
European rating agency. Objective, transparent, independent.

Additional Tier 1

Norddeutsche Landesbank - Girozentrale -

Rating History

Rating Watch Outlook Decision Date Action Validity Date Maximum Validity
BB 17.10.2023 26.10.2023
BB- 10.10.2022 14.10.2022
BB- 07.10.2021 18.10.2021
B Watch UNW 05.07.2021 06.07.2021
B 15.09.2020 06.10.2020


  • 26.10.2023
    Creditreform Rating (CRA) upgrades Norddeutsche Landesbank's (Group) Long-Term Issuer Rating to A-. The rating outlook is stable.
    CRA upgrades Norddeutsche Landesbank's Preferred Senior Unsecured Debt to A-, Non-Preferred Senior Unsecured Debt to BBB+, Tier 2 Capital to BB+ and AT1 Capital to BB.
  • 14.10.2022
    Creditreform Rating has affirmed the Long-Term Issuer Rating of Norddeutsche Landesbank at 'BBB+'. The outlook is affirmed at 'stable'. The rating of 'Additional Tier 1' capital is affirmed at 'BB-'. The rating of 'Tier 2' capital is affirmed at 'BB'. The rating of 'Non-Preferred Senior Unsecured' is affirmed at 'BBB'. The rating of 'Preferred-Senior Unsecured' Debt is affirmed at 'BBB+'. For further information, please refer to our Rating Update on our website.
  • 18.10.2021
    Creditreform Rating has confirmed the outlook (stable) of Nordeutsche Landesbank (Group) and raised the long-term issuer rating of Nordeutsche Landesbank (Group) from BBB- to BBB+. In addition, Creditreform Rating raised the Additional Tier 1 rating from B to BB-, the Tier 2 rating from B+ to BB, the Non-Preferred Unsecured Debt rating from BB+ to BBB and the Preferred Senior Unsecured Debt rating from BBB- to BBB+. For all further information, please refer to our Rating Report on our homepage.
  • 06.07.2021
    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 3.0") will be applied with the end of the consultation process. In addition, Creditreform Rating AG introduced the new sub-methodology „Institutional Protection Scheme Banks“. Hence, 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 methodologies can be found at
  • 06.10.2020
    Creditreform Rating has revised its outlook on the Norddeutsche Landesbank (Group) to stable from watch negative and affirmed the rating of Norddeutsche Landesbank (Group) at BBB-. In addition, Creditreform Rating has set the rating of Additional Tier 1 at B, confirmed the rating of Tier 2 at B+ and the rating of Preferred Senior Unsecured Debt at BBB-. The rating of Non-Preferred Senior Unsecured Debt was set at BB+. For more details regarding the rating, we refer to our rating report on our homepage.