Moody's lowers HSH Nordbank

Moody's Investors Service said it downgraded HSH Nordbank AG's long-term debt and deposit ratings and long-term issuer ratings to Baa3 from Baa2.

The agency also lowered the bank's short-term ratings to Prime-3 from Prime-2.

The outlook is stable.

Moody's said the downgrade reflects its expectation that the bank will need ongoing support from its owners over the long-term and the additional uncertainties given the pending final ruling of the EC on state aid compensation measures.

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