Creditreform has set the rating of OP Financial Group to not rated (n.r.) due to lack of relevance for CRA. In addition, Creditreform has set the ratings of the bank capital and debt classes, Tier 2 and Preferred Senior Unsecured as well as Non-Preferred Senior Unsecured to not rated (n.r.).
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 lowered the rating of OP Financial Group (Group) from A+ to A. The outlook is stable. In addition, Creditreform Rating has also lowered the rating of Tier 2 Capital from A- to BBB+, the rating of Non-Preferred Senior Unsecured Debt from A to A- and the rating of Preferred Senior Unsecured Debt from A+ to A. 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.
Creditreform Rating has affirmed the rating of OP Financial Group at A+. The outlook is stable. In addition, Creditreform Rating has affirmed the rating of Tier 2 capital at A- and the rating of Preferred Senior Unsecured Debt (after reclassification from Senior Unsecured Debt) at A+. Moreover, the rating of Non-Preferred Senior Unsecured debt was set to A.
Creditreform Rating has set the rating of OP Financial Group to A+, with stable outlook. Creditreform Rating has also determined the ratings of the debt classes as follows. The rating of Tier 2 was set to A- and the rating of the Senior Unsecured to A+.