Moody’s changes view on four German banks to negative

Moody’s Investors Service said it changed the outlook on four German banks to negative from stable, prompted by the rating agency’s change of Germany’s macro profile.

“Today’s rating actions, which were largely limited to changes in rating outlooks to negative from stable, reflect German banks’ increasingly challenging profitability outlook, as most of them struggle to effectively align their cost structure to the depressed revenue potential aggravated by an increasingly adverse interest rate environment and by a weaker economic growth outlook,” said Bernhard Held, a Moody’s vice president and senior credit officer, in a press release.

The banks are DVB Bank SE, DZ Bank AG, Muenchener Hypothekenbank eG, and Sparkassen-Finanzgruppe.

Moody’s also affirmed ratings for DZ Bank, Muenchener and Sparkassen-Finanzgruppe.

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