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.
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.
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.
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 confirmed the bank rating of NORD/LB Norddeutsche Landesbank Girozentrale at BBB-. The outlook is stable. The rating is based on the solid liquidity position as well as the ongoing reduction of the weak ship portfolio. The bank is focused on the North German region and offers the whole range of financial services, and structured finance in particular as an originator for ship and aviation transactions. On the other hand, the massive annual deficit and the decrease of the equity ratio have an adverse effect on the rating. 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-.