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 www.creditreform-rating.de.
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.