Moody’s changes Commerzbank view

Moody's Ratings said it affirmed all long- and short-term ratings and rating assessments of Commerzbank AG, including its A1/P-1 long- and short-term deposit ratings, its A2 long-term senior unsecured debt and issuer ratings and its Baa2 junior senior unsecured debt ratings.

The outlook on the long-term deposit, issuer and senior unsecured debt ratings was changed to positive from stable.

The agency affirmed Commerzbank's subordinated debt ratings at Baa3 as well as all of its P-1 short-term ratings.

The bank's baa2 baseline credit assessment and adjusted baseline credit assessment were affirmed as well as the bank's A1(cr)/P-1(cr) long- and short-term counterparty risk assessments and its A1/P-1 long- and short-term counterparty risk ratings.

“The positive outlook on the bank's long-term deposit, issuer and senior unsecured debt ratings reflects the possibility that Commerzbank's continued progress in executing on its strategic plan could result in a sustainably improved financial profile, that in time would support consideration of an upward rating shift,” the agency said in a news release.

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