Moody’s lifts DVB Bank view to positive

Moody's Investors Service said it affirmed DVB Bank SE's (DVB) Baa1 long-term senior unsecured debt rating and changed the outlook to positive from stable.

The agency also affirmed the bank's A2 long-term deposit ratings and its Ba1 subordinated debt rating. The Prime-1 short-term deposit ratings were unaffected.

Concurrently, Moody's affirmed DVB's ba3 baseline credit assessment (BCA), baa3 adjusted BCA and A2(cr)/P-1(cr) counterparty risk assessments.

Moody’s said the outlook change follows the Aug. 5 action when it changed the outlook to positive from stable on the long-term senior unsecured debt ratings of DVB's parent bank, DZ Bank AG Deutsche Zentral-Genossenschaftsbank (DZ Bank, deposits Aa1 stable, senior unsecured debt Aa3 positive, BCA baa2).

The stable outlook on the A2 long-term deposit ratings was maintained, in line with the stable outlook on DZ Bank’s deposit ratings.

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